In a recent government meeting, officials outlined the fiscal strategy for the upcoming fiscal year, emphasizing a balanced approach to budgeting while addressing critical community needs. The city plans to utilize its fund balance for one-time expenditures and allocate bond proceeds from previous years towards capital and utility projects.

For the FY 25 budget, requests totaled $22.3 million, leaving $6.3 million unfunded. The budget includes $3.1 million earmarked for public safety enhancements, which encompasses salary increases, the addition of two new traffic officers, and essential equipment upgrades such as portable radios and vehicles.

Additional allocations include $900,000 for economic development incentives, $1.4 million for employee recruitment and retention, and $1.2 million for community engagement initiatives. Notably, $1 million of the community outreach funding will be sourced from the Public, Educational, and Government (PEG) fund.

The overall revenue budget for the city is projected at $220.5 million, reflecting a modest 0.2% increase from the previous year. Key contributors to this increase include a 16.5% rise in property tax revenue, driven by higher assessed values and new property additions, alongside an 11.3% increase in sales tax revenue attributed to new businesses. However, there is a significant 27% decrease in licenses and permits revenue, primarily due to the completion of large-scale developments.

On the expenditure side, the total budget is set at $243 million, marking a 15.6% decrease compared to the prior year. This reduction is largely due to a decrease in capital projects and utility spending, with capital project funding dropping from $74 million to $35 million.

The general fund revenue is projected at $87 million, a 13.1% increase over the last year, again largely driven by property tax and sales tax growth. However, officials anticipate a decline in licenses and permit revenue as the city completes its major development projects.

This budget reflects the city's commitment to addressing immediate public safety needs while strategically managing resources for long-term infrastructure and community development.