During a recent government meeting, city officials provided an overview of the proposed budget for fiscal year 2025, highlighting key financial principles and anticipated expenditures. The total estimated budget stands at $246.8 million, reflecting a $14 million increase from the previous year, primarily driven by compensation adjustments and rising costs associated with public safety and infrastructure.

The city plans to implement a half-mill rollback, setting the mill levy at 26.970 mills for the upcoming fiscal year. This marks the seventh consecutive decrease in the mill levy since 2018. Officials emphasized the importance of maintaining sufficient reserves to navigate economic downturns and uphold the city's AAA bond rating, which is crucial for minimizing borrowing costs.

Key budget highlights include an estimated assessed valuation of $1.82 billion, a 5.86% increase attributed largely to new construction. The budget allocates approximately $39 million to public safety, making it the largest expenditure category, followed by economic development and community infrastructure.

In response to growing service demands due to population growth, the city is recommending the addition of five full-time equivalent positions across various departments, including police and parks and recreation. The budget also maintains existing user fees and sales tax rates, with property taxes accounting for about 43.3% of overall revenue.

Officials noted that the average monthly expense for city services will rise to approximately $120.92, reflecting a 4.46% increase from the previous year. This increase encompasses a wide range of services, including road maintenance, public safety, and recreational facilities.

The meeting concluded with a public hearing on the revenue neutral rate, which is set at 25.872 mills, a reduction from the current fiscal year. This rate is designed to ensure that the city can maintain its revenue levels despite fluctuations in property valuations, particularly as new growth continues to shape the community's financial landscape.