City Manager Presents Recommended Budget for FY 2019-20
At May 21's City Council meeting, Greensboro City Manager David Parrish presented a $566.1 million (all funds) recommended budget for the 2019-20 fiscal year. As part of the budget, Parrish recommended increasing the property tax rate by three cents to 66.25 cents per $100 property valuation. The City’s last property tax increase was 11 years ago, the Fiscal Year 2007-08 budget.
“This recommended budget is a step toward long-term stability for our City budget,” Parrish said. “It maintains our AAA bond rating, allows us to improve vital infrastructure and addresses key Council priorities such as affordable housing, economic efforts around M/WBE, maintaining our recycling program and addressing transit needs.”
Included in this budget proposal are improvements to further strengthen the Greensboro Science Center, transportation, M/WBE and small businesses, libraries, zoning, and Parks and Recreation’s Plan Plan2Play Master Plan. The proposed budget also continues City Council’s goal of raising the minimum wage for all general roster employees from $12.50 to $13.50 per hour. Council’s plan is to raise this to $15 per hour for FY 2020-21.
If approved, residents would also see a $2.50 per month per household fee allowing the City to continue its recycling program. Water and sewer rates would increase by four percent for both customers inside and outside the city limits, letting the City continue to commit to improving its water quality and infrastructure. The average bill for a customer inside the city limits will increase $1.81 per month, while the average bill for a customer outside the city limits will increase $4.52 per month.
“It’s also important that we continue to fulfill our responsibilities to residents who overwhelmingly voted for the 2016 Bond Referendum,” Parrish added. “This allowed us to borrow up to $126 million for parks and recreation, housing, economic and community development, and transportation projects. We are making progress on this and have to start paying back this money.”
Residents can find information about the 2016 bonds on the Bond Tracker webpage, which is updated every three months.
Council will hold a work session over the coming weeks, then host a public hearing at its June 4 Council meeting. Council will vote to adopt the FY 2019-20 budget at its June 18 meeting.