Richmond City Council tonight adopted the new Fiscal Year 2011 Richmond Government Budget. Council's budget deliberations spanned three months, from mid-March until final adoption tonight and took place during two dozen Council meetings and special work sessions...
RICHMOND CITY COUNCIL
Richmond City Hall - 900 E. Broad Street, Suite 200 - Richmond, Virginia 23219 www.council.richmondva.gov
COUNCIL PUBLIC INFORMATION NEWS ADVISORY
FOR IMMEDIATE RELEASE
Monday, 24 May 2010
Richmond City Council adopts FY 2011 Richmond Government Budget
Total Richmond budget cut by $5.2 million
(Richmond, Virginia) – Richmond City Council tonight adopted the new Fiscal Year 2011 Richmond Government Budget. Council's budget deliberations spanned three months, from mid-March until final adoption tonight and took place during two dozen Council meetings and special work sessions. During the process, Council acted to keep the 2010 Richmond Real Estate Tax Rate the same as last year, at $1.20 per $100 in assessed real estate value.
Highlights of Council’s Fiscal Year 2010 Richmond Government Budget adopted tonight include:
• Total Fiscal Year 2011 Richmond Government Budget is $1,370,402,375
• Total expenditures were cut by $5.2 million (of which $4.6 million was the result in state revenue reductions to Richmond Public Schools).
• Council amendments resulted in approximately $600,000 reduction in total expenditures.
• Council added $2.5 Million increase in appropriations for Schools Repair & Maintenance
• Council established $1 Million decrease in Five Year CIP Plan, thus reducing the need for debt
• Council identified $387k savings identified in annual debt service expenditures
• Council established designation of special funds for affordable housing and special parking districts
• Council approval of loan programs for small businesses and community development projects
• Council restored funding for RPS Spanish Immersion Program
• Council provided funding for Community of Caring Program (Teen Pregnancy Prevention)
• Council provided funding for video equipment to combat illegal dumping in highly impacted area.
• Council added requirement that the City Administration shall provide detailed semi-annual reports to Council for the Richmond Commercial Loan Program and Richmond Subcontractor Financing Program (Richmond Office of Minority Business Development Demonstration Project). These were proposed by Mayor and Council supports the implementation and asks for full disclosure in the administration of these programs.
• Council called for the Administration to review current practices and recommend a policy governing the appropriation of City funds in support of community events held in the City sponsored by private entities.
The total Richmond Council’s Fiscal Year 2010 Richmond Government Budget adopted tonight includes:
• Richmond General Fund
• Richmond Capital Improvement Plan,
• Special Funds
• Enterprise Funds
• Internal Service Funds
• Federal/State/Other Funds for Richmond Public Schools.
The breakdown of these numbers are attached, a summery is as follows:
Richmond Total Budget Mayor’s Proposal Council Adopted $ Change
Richmond General Fund (Excludes School Appropriation, Note A attached) $488,254,920 $488,172,920 -$82,000
Capital Improvement Plan $147,872,956 $146,905,956 -$967,000
Special Funds (Note B attached) $124,503,837 $124,966,837 $463,000
Enterprise Funds $330,564,428 $330,564,428 $0
Internal Service Funds $37,911,635 $37,911,635 $0
School Board (Note C attached) $246,552,450 $241,880,599 -$4,671,851
Total City Expenditures $1,375,660,226 $1,370,402,375 -$5,257,851
CONTACT For more information, please call Daisy E. Weaver, Council Chief of Staff
at 804.646.5921 or daisy.weaver@richmondgov.com
BACKGROUND _______________________________________________________________________
As Richmond Citizens, we pool our resources to own and operate our government and decide what public services we want to invest in; the priority (investment levels) for these services; and, how we pay for them. Examples of our services include the management, oversight and delivery of such things as clean/safe water; streets/parks; firefighting/ rescue; trash/sewage removal; laws, police/courts; public transportation; and, our children’s education. Together, we own, operate, use and benefit from these services every day.
Thus, every year a proposed Richmond Government Budget (Fiscal Plan) is submitted to Richmond City Council by the Mayor, who is responsible for administering local government services. Council then reviews, analyzes and amends this budget based on the priorities of citizens.
Council's budget deliberations typically span three months, from mid-March until final adoption toward the end of May and take place during an estimated two dozen Council meetings and special work sessions that are all open to the public. During the process, Council adopts a Richmond Real Estate Tax Rate and, at the conclusion of the deliberations, votes on a Richmond City Government Budget for the upcoming Fiscal Year (FY).
The Richmond City Government Budget runs from July 1 to June 30 annually and the City operates on a two-year fiscal plan (Budget) that includes City General Fund, Capital Improvement Plan, Special Funds, Enterprise Funds, Internal Service Funds, the City’s contribution to Richmond Public Schools and additional state, federal, and other funds provided to Richmond Public Schools. The Budget is typically amended every year.
Richmond citizens were invited and encouraged to attend any and all of the public meetings and budget work sessions.
The final budget takes the form of laws, which will are available from the Richmond City Council website, at www.council.richmondva.gov. Copies will also be available for review in the Richmond City Council Office of the City Clerk, at Richmond City Hall, 900 E. Broad Street, Suite 200, Richmond, Virginia 23219 (804.646.7955 tel).
- E N D -
