2024 Draft Budget

The document presents the 2024 Draft Budget for a city council, focusing on maintaining existing service levels while managing fiscal pressures and enhancing capital project delivery.

• 2024 Property Tax Increase: Forecasted at 7.6%, down from the initial 9.5% projection, achieved through additional non-tax revenues and efficiencies in city processes.
• Capital Budget: $1.25 billion for existing projects, with new requests totaling $368 million. Prioritizing infrastructure renewal and growth, with an emphasis on sewer and water main renewal and capital maintenance.
• Operating Budget: $2.2 billion, a 9.8% increase from 2023, supported by property tax and utility fee increases.
• Revenue Generation: Initiatives include fee optimization and expansion of short-term revenue opportunities.
• Service Delivery: Focus on maintaining infrastructure and public amenities, with an increase in staffing for firefighters and police officers.

The council will consider this budget on December 12, 2023.