Richmond City Council establishes FY 2013 Richmond Government Budget of nearly $1.5 billion

RICHMOND CITY COUNCIL Richmond City Council – Richmond City Hall - 900 E. Broad Street, Suite 200 - Richmond, VA 23219 - www.council.richmondva.gov COUNCIL PUBLIC INFORMATION NEWS ADVISORY IMMEDIATE RELEASE TO BE FORWARDED AND SHARED Tuesday, May 15, 2012 Richmond City Council establishes FY 2013 Richmond Government Budget of nearly $1.5 billion Council keeps Richmond Real Estate Tax Rate lowest in 30 years (Richmond, Virginia) – Last night (May 14, 2012) Richmond City Council established the new Fiscal Year 2013 Richmond Government Budget of nearly $1.5 billion. The vote, 7-1, for approval, came during the regularly scheduled Richmond City Council Formal Meeting held in Richmond City Council Chambers. Council's budget deliberations began in August of 2011 and intensified during February through May 2012, culminating in nearly 20 public meetings and special work sessions held during the three months of March through May 2012, until final adoption last night. Highlights of Council's Fiscal Year 2013 Richmond Government Budget include: • Council increased funding for Richmond Public Schools by $7 million, which included - $2.7 million to restore paid health care benefits for pre-Medicare retirees; - $2.4 million to avoid need for school staff furloughs; and, - $371,000 for restoring monies needed for employee retirement. • Council cut Richmond Government General Funds for Departments by $3 million. • Council did not change the Richmond Real Estate Tax Rate, which is typically set during this period. Council kept the Richmond Real Estate Tax Rate the same as last year, at $1.20 per $100 in assessed real estate value, which Council has maintained since 2008 and is the lowest rate in more than 30 years (Note: In 1980 the rate was $2.12 per $100). Our Richmond Government Budget includes the following six components: Richmond General Fund; Capital Improvement Plan (CIP); Special Funds; Enterprise Funds; Internal Service Funds; and, Federal, State and additional funds for Richmond Public Schools. CONTACT For more information, please contact Steve Skinner, Council Public Information Manager, at 804.646.6052 (office tel) or 937.1386 (mobile) or steven.skinner@richmondgov.com (email) Background ___________________________________________________________________________ As Americans, we pool our resources in order to own and operate our citizen-run governments. In doing so, we decide how we want our community to operate (laws); what public services we invest in (funding); the priority (investment levels) of services; and, how we pay for them (taxes/fees). As the governing body of Richmond, Richmond City Council represents residents in determining the laws and government services they want. Thus, each year Richmond City Council establishes an annual Richmond Government Budget (In practice: An initial biennial (2-yr.) fiscal plan budget is established that is further amended in its second year.) and establishes a Richmond Real Estate Tax Rate to help pay for some of it (estimated 15%). Our Richmond government services include the management and delivery such things as the administration, management and delivery of clean/safe drinking water, streets and parks; trash/leaf/sewage removal; public transportation; police; firefighting/rescue; economic development; and, educating our children. 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. Council's budget deliberations began in August of the preceding calendar year and intensify during February through May in the year it will be voted on, culminating in nearly 20 public meetings and special work sessions held during the three months of March through May. Our Official Richmond Government Budget takes the form of laws, which are approved by Council as Ordinances. Each year, Richmond citizens are invited and encouraged to attend any and all of the public meetings and budget work sessions. While there is no public comment during the work sessions, citizens are invited to contact the Councilmember who represents their voter district and to publicly address Council during the Council Public Hearings. Richmond City Council ____________________________________________________________ Mission - The mission of Richmond City Council is to represent citizens in creating and amending local laws, providing government policy and oversight, and approving the city budget. Vision - Richmond City Council is committed to creating a vibrant community that is a great place to live, work, learn, play, visit and raise a family. - E N D - ______________________________________ Steven R. Skinner, APR Council Public Information Manager RICHMOND CITY COUNCIL OFFICE OF THE COUNCIL CHIEF OF STAFF Richmond City Hall 900 E. Broad Street, Suite 305 Richmond, Virginia 23219 804.646.6052 (office) 804.335.4054 (mobile) 804.937.1386 (home/mobile) 804.646.5468 (fax) steven.skinner@richmondgov.com (email) www.council.richmondva.gov(website) ____________________________________________ MISSION The mission of Richmond City Council is to represent citizens in creating and amending local laws, providing government policy and oversight, and approving the city budget. VISION Richmond City Council is committed to creating a vibrant community that is a great place to live, work, learn, play, visit and raise a family.