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Maricopa unveils balanced FY2023‑24 budget; lowers primary property tax rate and programs $154.5 million in CIP
Summary
Deputy City Manager/CFO Matt Kozlowski presented a balanced FY2023‑24 budget that reduces the primary property tax rate to 3.8788 percent, shows projected general fund revenues of $91.35 million and expenditures of $69.09 million, and programs a 10‑year CIP estimated at roughly $622 million with $154.5 million proposed for FY24.
Matt Kozlowski, deputy city manager and chief financial officer, presented the city’s proposed fiscal year 2023‑24 budget and a 10‑year capital improvement plan to the City Council on May 16.
“Our budget is balanced, requiring no new taxes or reliance on reserves and allows us to continue lowering taxes,” Kozlowski said, describing a primary property tax rate reduction to 3.8788 percent and projected general fund revenues of $91,350,000 versus projected expenditures of $69,090,000 for FY24.
Kozlowski said the city will not require a truth‑in‑taxation hearing and that primary tax revenue increases this year are driven by new construction assessed value. He said FY24’s capital improvement program totals about $154,500,000 and that the city’s 10‑year CIP is about $622,000,000, with roughly 74.3 percent dedicated to transportation projects.
He outlined near‑term CIP priorities that include traffic signals, SR 238 widening from SR 347 west toward two miles west of 347 (noting a state appropriation of $10.3 million), construction of a third northbound lane on SR 347 (Lakeview/Cobblestone Farms area), and investments in a new police headquarters and 9‑1‑1 emergency dispatch center. He also noted planned purchases and upfitting of ambulance bodies in future years and a program of ongoing investments and maintenance at Copper Sky.
Kozlowski said personnel costs and modest operating increases are part of the budget: projected personnel increases total about $5.77 million (including salary increases, new positions and health insurance cost growth), and operating expenditures are projected to rise about $2.41 million, including an emergency contingency allocation. He said about 41 percent of operating expenditures are dedicated to public safety and that 69 percent of the general fund budget is personnel costs.
Councilmembers applauded the conservative approach and asked clarifying questions. A motion to approve the budget was made by Councilmember Wade and seconded by Councilmember Manfredi; the motion carried.
