2018-2019 Adopted Budget

GREENSBORO NOR TH CAROLIN A

Honorable Mayor and Members of City Council:

I am pleased to provide you with a copy of the 2018-19 Annual Budget and 2019-20 Projected Budget. This document was prepared by the City's Budget and Evaluation Department and represents a comprehensive publication of the City's budget plans and policies for the upcoming fiscal year. The document also includes a second year planning budget that gives us the opportunity to continue planning for and implementing the strategies necessary to meet the future needs of our community. I presented the recommended FY 2018-19 budget to Council on May 15, 2018 and both hard copy and electronic versions were available for public review. The Council held two budget work sessions and a public hearing on the proposed budget before adoption. City Council adopted the 2018-19 annual net budget, totaling $543,467,569, on June 19, 2018. The adopted FY 18-19 Budget is 1.3% higher than the revised FY 17-18 budget. The overall property tax rate remains 63.25 cents, the same as FY 17-18. FY 18-19 represents the ninth consecutive year in which the adopted tax rate has remained 63.25 cents. The adopted budget addresses multiple Council priorities. The budget increases the minimum wage for all benefited positions to $15/hour, or $31,200 annually, and continues to increase hourly pay for roster employees toward an eventual $15/hour level. The budget also includes full funding for debt service related to recent bond referenda, which will support the sale of $155 million in general obligation (G.O.) bonds in October 2018. Parks and Recreation, Housing, Transportation and Community Development projects are included in the planned sale. The 2018-19 and 2019-20 budget columns in this document, as well as the narrative, reflect the budget as adopted by Council with changes made during the Council deliberations. The Manager's Message, however, is included as it was presented with the Recommended Budget. On behalf of the employees of the City, I thank you for your continued leadership and support of our efforts to meet your priorities in the delivery of high quality services to the Greensboro community. Respectfully,

David Parrish City Manager

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