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