NORFOLK: City Budget Structurally Balanced; Targets Neighborhoods, Removes Water Fee

City Budget Structurally Balanced; Targets Neighborhoods, Removes Water Fee

City Manager Marcus D. Jones has presented the Proposed FY 2016 Budget to City Council. The structurally balanced budget supports financially stability for years into the future, achieving a goal Jones set for the city since becoming City Manager in 2011.

“A structurally balanced budget is a major achievement,” said Marcus D. Jones, City Manager. “As a Well-Managed Government, we implemented financial policies ensuring revenues match expenditures. This budget also includes a pay raise for employees, money for neighborhoods and eliminates the dollar fee on the water bill which I believe will provide some relief to our residents.”

The Proposed FY 2016 Budget is smaller than previous years. It includes a mid-year 2% pay raise for city employees and a 3% pay raise for the lowest paid employees. The proposed budget eliminates the $1 fee on the water bill and raises the fee for car registration decals from $26 to $31. The additional revenue will fund Complete Street programs; improving bikeability and walkability options throughout the city.

The proposed budget includes Norfolk First, a new economic development strategy creating a favorable environment for business growth and development. Norfolk will become one of the first cities in the country to create and administer various venture capital programs.

The proposed budget supports the Poverty Commission’s recommendation creating the first Affordable Housing Trust Fund. $1 million will support the construction, acquisition, rehabilitation and preservation of affordable housing units in mixed-income developments for low-income residents.

The proposed budget includes $500,000 to explore high-speed internet service improving community connectivity and operational efficiency for city services and Norfolk Public Schools.

The proposed budget demonstrates the city’s commitment to Norfolk Public Schools and doubles funding for street and sidewalk improvements in neighborhoods across the city.

The Proposed FY 2016 Budget reflects months of input from city employees and residents identifying best practices and efficiencies.

City Council is scheduled to vote on the Proposed FY 2016 Budget in May. Council will host a public hearing in the coming weeks.

For more information on the Proposed FY 2016 Budget, go to http://www.norfolk.gov

http://www.norfolk.gov/Blog.aspx?IID=431

About

Realtor with Greg Garrett Realty, actively licensed in the state of Virginia

Tagged with: , , , , , , , , , , , , , ,
Posted in Uncategorized

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: