Proposed FY 2014 Budget
March 12, 2013
Mayor Cohen Presents State of the City Address
Annapolis, MD (3-12-13) Annapolis Mayor Joshua J. Cohen presented his FY 2014 proposed operating budget during his State of the City Address last night to the City Council in front of a full Council Chamber.
The operating budget is largely a level-service budget, maintaining flat property tax revenues. FY14 expenses come to $94.6 Million, a 1.4 percent increase over FY13. The budget projects revenues of $97.1 million, yielding a surplus of $2.5 million across all funds.
“The theme of this proposed budget is ‘responsible restraint,’” Mayor Cohen said. “Responsible, because I remain committed to putting the City’s fiscal house in order. Restraint, because with the state of our economy, the continued pressure on household incomes, and the contributions we have already asked of taxpayers, we must pursue our priorities while still living within our means.”
The City’s privatization of solid waste last year has achieved savings above what was originally projected. As a result, the Mayor’s proposed budget further reduces the household solid waste fee by $36 annually. Due to residual adjustments in the assessable base, the budget increases the property tax rate by 1.04 cents, from 64.0 cents to 65.04 cents. Because of individual variations in the assessments, which are outside the City’s control, some taxpayers will pay slightly less and others will pay slightly more.
The budget continues to fund long-term liabilities, including police and fire pensions at $1.2 million and retiree benefits at $800,000. The administration also remains committed to restoring the fund balance, earmarking $2.4 million.
Capital Improvement Program Highlights:
• $7.5 Million to commence flood mitigation and bulkhead work as recommended by the City Dock Advisory Committee.
• $750,000 to begin design and engineering for the Hillman Garage.
• $220,00 to begin implementation of the Wayfinding signage master plan, to enable visitors to efficiently get around and navigate towards parking facilities and major destinations.
• Roughly $150,000 each for the new community park at Kingsport, and for engineering for the long-overdue replacement of the Truxtun Park swimming pool.
• $250,000 project to enable the City to construct new sidewalks in areas where they are lacking.
The FY 2014-FY 2019 CIP totals $10.6 million.
To view the budget and a video of the State of the City Address, go to http://bit.ly/YXja8B