Agenda Summary
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Conveying budget priorities and requests for FY 2025.
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Official Text
February 2024
Will Mbah Budget Priorities for FY25
To: Honorable Mayor Balantyne and City Council members:
Although I remain optimistic about the city’s fiscal situation, I expect that FY 2025will be a year in which some revenues will decline. In particular, the COVID/ARPA grant monies will finish and certain other fees and linkage payments, dependent on economic conditions, are likely to decline. This is not a cry of alarm, but a recognition that we will need to be prudent in our budgeting.
Therefore, in making the following recommendations, I have looked first at the areas where the COVID emergency and ARPA recovery monies have been used to assist families with children, school programs, families facing displacement and the homeless. I would give priority to new city spending that will insure the continuation of these programs and allow them to expand to more eligible residents.
Second, we must carry forward to completion the essential infrastructure projects now underway, in particular, the storm sewer and street/sidewalk reconstruction projects. We must also insure that we can finance the necessary elementary school reconstruction or replacement projects. Once these funding estimates are fixed, it may be necessary to further stretch out the Capital Improvement Projects of lesser urgency. However, we should begin the preparatory feasibility and design studies for these desirable CIP items to be ready when interest rates and broad financial conditions improve.
Third, uncommitted revenues that remain after covering our regulatory, health/safety and legal/administrative responsibilities should be directed into affordable housing development and subsidies for low-income renters/buyers.
Assistance for families with children and school programs:
· Insure that there will be replacement funding for the ARPA-initiated programs that...
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