Agenda Summary
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Requesting the appropriation of $319,923,766 to fund the FY 2024 General Fund Operating Budget.
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Official Text
To the Honorable City Council:
I hereby submit, subject to the approval of your Honorable City Council, an appropriation in the amount of $319,923,766 to fund the fiscal year 2024 General Fund Operating Budget for the City of Somerville. The General Fund Appropriation is broken down into the attached departmental appropriations in the categories of Personal Services, Ordinary Maintenance, Special Items, and Capital Outlay.
The formal appropriation order is attached to this communication. The detailed Proposed FY2024 Budget is on the on-line platform.
Sufficient amounts exist within the proposed appropriation to fund any necessary salary adjustments that may be needed throughout the fiscal year in accordance with the Wage and Salary Classification Plan and collective bargaining agreements.
A total amount of $6,705,968.21 has been added to the General Fund Debt Service to finance the construction of Somerville High School. This amount of debt service is exempt from the Proposition 2 1/2 Property Tax Levy Limit. The corresponding amount of $6,705,968.21 has been added to the Property Tax Levy to finance the debt exclusion.
Thank you for all of your time and deliberation.
Appropriate staff will be available to address any questions you may have. Thank you for your consideration of this item.
Respectfully Submitted,
Katjana Ballantyne, Mayor