City manager Luke Stowe announced the city’s proposed 2023 budget Tuesday, slated to be $402.5 million, with increases to necessary Capital Improvement Plan projects, COVID-19 recovery assistance and multiple diminished funds.

The budget will prioritize investments in city facilities and infrastructure, advancement of the Climate Action and Resilience Plan, community development and job creation as the city continues recovering from the COVID-19 pandemic, among other goals. 

The budget saw a $42.1 million increase from the adopted 2022 budget. The city attributed the increase to a drawdown of funds available from the American Rescue Plan Fund, Water Fund, General Fund and Affordable Housing Fund and necessary Capital Improvement Projects previously and newly approved. 

City staff discussed the CIP at a City Council meeting in September, noting the budget is projected to be $103 million and includes projects such as a new water intake pipeline and city park and facility improvements. 

The General Fund, the city’s main operating fund, is set fore $125.3 million in revenues and expenditures in the coming year, a $7.4 million increase from the 2022 adopted budget. 

The increase in projected revenues will include state income tax, natural gas utility tax, sales tax, use tax and hotel tax revenues as well as a 4% increase in the net property tax levy for the city and the library to support increases in personnel and operating expenses. The city attributed this need to pandemic recovery and inflation impacts. 

The budget proposal will be formally presented to City Council at a special meeting on Oct. 17 where it will begin its process of discussion, pending approval. The city encourages residents to provide feedback on the proposal.

There will be a public hearing at City Council’s Oct. 24 meeting and the city is planning two community town hall meetings with locations and dates to be announced. 

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