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Finance director: city has $86 million budget and $30 million in grants to invest
Summary
Clarissa Brown Smith, finance director, said the city has an $86,000,000 budget, reported receiving more than $30,000,000 in grants and noted sales tax revenue rose about 10% over four years; she listed priorities including public safety and water-plant rehabilitation.
Clarissa Brown Smith, the city finance director, said the city stands on "solid financial ground" and outlined recent audit and revenue trends.
Smith said the city has received more than $30,000,000 in grants that the administration is investing in local projects and reported the city's budget at $86,000,000. "We have received clean audit over the last 4 years," she said, and added that sales-tax revenue has increased by about 10% over the past four years.
She listed priorities for the upcoming fiscal year: public safety, economic development, cost-saving initiatives and revenue innovations. Smith said prior financial decisions enabled salary increases for police, fire and non-civil-service employees and allowed funding of an "integral rehabilitation" of the city's water-treatment plant.
The finance director said the establishment of economic-development districts has produced additional revenue streams and that those districts had yielded about $150,000 to date. She did not provide detailed line-item budget documents during the address; department leaders gave program and project-level summaries in follow-up presentations.
