Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Budget topic
No spam. Unsubscribe anytime.
Concord adopts FY2025-26 budget, holds tax rate steady
Summary
City Council approved a $382.6 million citywide budget and maintained the property tax rate at 42 cents, allocating funds for transportation, parks, affordable housing and employee pay adjustments.
Concord City Council on Thursday adopted the FY2025-26 budget after a public hearing, approving a $382,574,668 citywide spending plan while keeping the property tax rate at 42 cents.
City Manager Lloyd presented the budget as a “strategic road map” aligned with council priorities and said the package was designed to maintain services without increasing the tax rate. “I humbly ask for your consideration adoption of proposed FY 20 25, 20 26 budget,” Lloyd said during his presentation.
The proposed budget includes a $165,649,000 general fund, and the citywide figure represents an 8.1% increase over FY2025. Council materials state the city’s updated assessed property values total $24,756,331,083, a 66.8% increase over the prior year; the city’s finance presentation said each 1¢ of the tax rate generates about $2.4 million at the current 99% collection rate.
Key allocations in the adopted budget include $4.4 million for transportation improvements, $1.8 million for the greenway network and $1.8 million targeted at affordable housing. The budget also directs $2,213,595 from general capital reserves to a project fund to purchase self-contained breathing apparatus units for the fire department and transfers $1,785,000 for one-time capital equipment needs.
On personnel and benefits, the budget adds seven full-time positions (including four downtown police officers) and leaves the city’s authorized positions at 1,252. It includes a 3% cost-of-living adjustment for employees effective in July, merit increases of 1–4% tied to performance, and a proposed 1.5% pay increase tied to career-development milestones. The city will absorb a recommended 5% premium increase for most employee health-care plans and continue the city contribution to retirement and 401(k) plans.
Council members praised staff and supported the measure; a councilor made a motion to approve the budget and the council voted to adopt it with all members voting in favor by raised hands.
The budget packet and staff presentation note planned investments in downtown events, continued work on parks bond projects and design work for a new fire station 13. The city also plans upgrades at Concord-Padgett Regional Airport and improvements to transit fare collection as part of the FY2025-26 plan.
The adopted budget will move forward as presented; staff said they will return with details and schedules as project designs progress.
