2024 Proposed Operating Budget

The City Council has approved the 2024 Proposed Operating Budget, which includes a 5.62% tax increase. The budget covers various components, such as a same-level-of-service increase, emerging organizational needs, investment in community facilities, and senior-level government funding.

• A 3.10% tax increase for a same-level-of-service budget increase of $8,900,427 after tax growth
• A 0.52% tax increase for emerging organizational additional levels of $1,501,828
• A 1.00% tax increase for a $2,870,523 transfer to reserves for Investment in Community Facilities
• A 1.22% tax increase for a $3,491,599 increase in senior-level government and other government agency funding
• Use of $1,581,197 in reserves for Affordable Housing, Child Care, and Public Art programs

• Operating Budget Impacts: $971,855 with a 0.34% tax increase
• Use of the Rate Stabilization Account to reduce the overall impact by $1,612,500, resulting in a 0.56% tax decrease
• The approved 2024 Operating Budget will be included in the Consolidated 5 Year Financial Plan (2024-2028)