Tuesday, April 11, 2017

City of Asheville Budget Highlights - where does the money go?

Today is the 3rd and last budget worksession meeting held by the City of Asheville as they prepare to release the first draft of the 2017 fiscal year budget.  It will cover the Capital Improvements Program (see below) which last year was $27 million of the operating budget.

Here are some important numbers to keep track of as we go into this year's budget:

2016 Budget Highlights

  •  $161 million was the 2016 budget.
  • Of this, $95 million is for salaries/wages/benefits (53%), the largest expenditure. This year the City proposes another wage increase of roughly $1.8 million.
  • $46 million is spent in Operating Costs
  • $12.7 million is spent in debt service (bonds that were previously issued)
  • $16.4 million is spent in capital outlay - streets, greenways, new equipment, etc.
$27 Million Capital Improvements Program - today's budget meeting is to discuss the CIP (Capital Improvements Program), a rolling 5 year plan to pay for Capital Projects.  The total last year for the 5 years was $149 million.  $27 million of this comes from the City's operating budget and they project approximately $110 million will be paid for through debt. 

What projects get paid out of this?  Here are the main projects:
  • $9.7 million - Affordable Housing
  • $13.9 million - Public Safety (firetrucks, etc.)
  • $7.2 million - Multimodal (Greenways, Bridge repair, sidewalks)
  • $36.6 million - Economic Development (RADTIP, Greenways, Craven St improvements etc.). Radtip is the largest expenditure of $36 million that is offset by federal funds
  • $9 million - Quality of Life, i.e., Parks and Rec
  • $33 million - Maintenance

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