City Manager Presents Recommended Budget for FY 2018-19
During tonight’s City Council meeting, Interim Greensboro City Manager David Parrish presented a $541.9 million (all funds) recommended budget for the 2018-19 fiscal year.
At City Council’s direction, the recommended budget maintains the current City property tax rate of 63.25 cents per $100 property valuation for the 9th consecutive year. The budget fully funds the 2008, 2009 and 2016 bond referenda passed by Greensboro voters. By maintaining the current tax rate, but increasing the portion dedicated to debt service from 8.0 cents to 9.5 cents, the budget ensures timely completion on 2008 and 2009 projects and activity soon on 2016 projects. The recommended budget also includes several Council directed employee compensation items that ensure our salaries remain market competitive, including advancing minimum wage for all benefited employees to $15 per hour and pay structure adjustments for all employees.
In addition, this budget provides necessary resources to support several critical outside agency requests, ensures the City organization can continue to properly maintain our existing facilities and infrastructure, upgrades needed technology to ensure we continue to operate effectively and efficiently, maintains the City’s AAA bond rating, and properly values and recognizes the many important contributions of our outstanding City employees.
Council will hold a budget public hearing at the June 5 City Council meeting and is scheduled to adopt the budget at its June 19 City Council meeting. As part of this year’s budget approval process, residents can use an online budget simulator.