Richmond
City Council /
News Release
For
sharing, forwarding, and posting
10
May 2023
Highly effective and efficient:
Richmond City Council established the
FY 2024 Richmond Government Budget
Streamlined process reduced excess meetings by more than 50 percent
Richmond, Virginia – Richmond City Council, during its scheduled Formal Meeting on Monday night, established a well-balanced and responsible Fiscal Year 2024 Richmond Government Budget on behalf of Richmond Residents.
Council’s streamlined process this year was highly efficient, effective, and productive and reduced excess meetings by more than 50 percent. Council’s maximization of meeting efficiencies included realigning meetings and reducing the need for additional separate meetings.
Highlights: FY 2024 Richmond Government Budget
· Total FY 2024
Richmond Government Budget = $3,007,423,016
The Richmond Government Budget includes the Richmond General Fund,
Richmond Capital Improvement Plan, Special Funds, Enterprise Funds, Internal Service
Funds, Federal and State funds, and funds provided to Richmond Public Schools
-
Richmond
General Fund = $951,923,789
-
Richmond
Capital Improvement Plan = $700,931,305
-
Richmond
Public Schools = $547,474,228
· $2 million for a year-round Richmond emergency housing shelter
· $8.5 million investments in new Parks Maintenance.
· $50 million over next five years to increase affordable housing
· $21 million for Richmond Complete Streets program, which
includes infrastructure paving improvements and safety enhancement projects,
which include pedestrian crossings, sidewalks, traffic calming/control, speed
tables, bike lanes, Americans with Disabilities Act (ADA), etc.
· Council
safeguarded the Richmond Real Estate Tax Rate to keep it at its lowest rate
in more than 40 years, at $1.20 per $100 of assessed value.
Richmond City Council extends thanks for the hard work, dedication, commitment, and expertise demonstrated throughout the budget process by Richmond City Council staff and City Administration personnel in helping make the process successful.
The Richmond City Council Fiscal Year 2024 Richmond Government Budget Establishment was an open process that encourages public transparency, engagement and involvement.
The FY 2024 Richmond Government Budget begins July 1, 2023 and is effective through June 30, 2024.
BACKGROUND
Webpage:
Richmond City Council Richmond Government Budget Establishment
https://www.rva.gov/index.php/richmond-city-council/richmond-budget
OVERVIEW - Richmond Government Budget
Establishing the annual Richmond Government Budget is Richmond City Council’s most fundamental role and responsibility as the governing legislative institution of Richmond, Virginia and serves as the foundation and ultimate act of its policymaking and stewardship of our community’s government operations on behalf of all Richmond residents.
As Richmond residents, we pool our resources in order to own and operate our local 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 some of the services we invest in include the management and delivery of such things as clean, safe water; streets, sidewalks, parks, laws, and law enforcement, firefighting, emergency services/rescue; trash and sewage removal; and, our children’s education. Together, we own, operate, use, and benefit from these services on a daily basis. Funding for these services comes from state, local and federal sources, including fees and taxes.
In order to set the investment levels we want for these services, Richmond City Council establishes an official annual Richmond Government Budget in May of each year for the upcoming Fiscal Year.
The Richmond Government Budget is based on a Fiscal Year that runs July 1 to June 30 annually and includes the Richmond General Fund, Richmond Capital Improvement Plan, Richmond Special Funds, Richmond Enterprise Funds, Richmond Internal Service Funds, the City Government contribution to Richmond Public Schools, and additional state, federal, and other funds provided to Richmond Public Schools.
The Richmond Government Budget is
established annually and every year a draft proposed budget is submitted to
Richmond City Council by the Mayor. Council then reviews, analyzes, and amends
it to establish the Official Richmond Government Budget based on the needs and priorities
of Richmond residents.
Richmond Residents
While reviewing the many compelling and competing budgetary needs of our city, Richmond residents are invited and encouraged to attend meetings and to share their thoughts, comments, and ideas directly with the individual Councilmember in their district.
CONTACT YOUR COUNCILMEMBER
https://www.rva.gov/richmond-city-council/council-contacts
FIND YOUR DISTRICT
The following helpful link can be used by residents, if needed, to further
assist in identifying their individual Richmond Voter District:
Richmond
Real Estate Property Search Database https://apps.richmondgov.com/applications/propertysearch/Search.aspx
(note: Click for “Search by Property Address” - Once
you’ve entered your address, use the Govt. tab to identify your Voter
Districts)
- E N D -
Richmond
City Council - Richmond City Hall - 900 East Broad Street, Suite 305 -
Richmond, Virginia 23219 U.S.A. - rva.gov/richmond-city-council (web)
