In a recent city council meeting, officials presented the proposed budget for the fiscal year 2024-2025, totaling $851 million, marking a significant increase of $141 million from the previous year. This budget is set to be formally adopted following two required readings and hearings, with the new fiscal year commencing on October 1, 2024.

Key components of the budget include a proposed millage rate of 5.0550, which represents a reduction of 0.1450 mills from the previous year. This marks the ninth consecutive year of millage rate reductions. The operating millage rate is set at 4.6807, while the voted debt for the Crosstown Parkway stands at 0.3743, reflecting a decrease of 0.1200 mills.

The budget is designed to address the city's ongoing growth, which has seen an increase of 13,000 residents over the past year. To meet the rising demand for services, the city plans to increase staffing by 60 employees, bringing the total workforce to 1,474.

During the meeting, city officials highlighted several capital projects that are driving the budget increase, including road improvements on Floresta Drive, which will be funded through bond proceeds and a $6 million county contribution. Other projects include intersection improvements at Gatlin and Savona, and enhancements to the Village Green Drive Corridor, funded by mobility fees and grants.

The council also discussed the implications of inflation on funding, particularly regarding the Floresta Drive project, which is anticipated to exceed initial cost estimates. The city plans to address funding shortfalls through bonding, with repayments sourced from half-cent sales tax revenues.

Overall, the proposed budget reflects the city council's strategic plan and aims to invest in essential capital projects that benefit residents, ensuring continued growth and service delivery in the community.