FY2009 City Budget Adopted by City Council
The Charlotte City Council adopted the FY2009 Operating Budget and FY2009-FY2013 Capital Investment Plan at its June 9th, 2008 meeting. The FY2009 budget for both operating and capital totals $1.83 billion and includes resources consistent with the Council's five focus area plans approved in March 2008:
- Community Safety
- Transportation
- Housing and Neighborhood Development
- Economic Development
- Environment
Additionally, the FY2009 budget addresses Council’s three priority emphasis areas. These include:
- Community Safety
- Transportation
- Economic Development - Business Corridor Redevelopment
The budget maintains the City tax rate at 45.86˘ per $100 valuation ($917 on a $200,000 home). It also continues the implementation of key budget initiatives approved by City Council last year.
The five-year CIP includes two bond referenda: $227.2 million for 2008 and $174.2 million for 2010 to fund transportation, neighborhood improvement, affordable housing, and economic development investments.
City Council made two changes to the City Manager’s recommended budget. These include:
- Deletion of $5 million in the FY2009-FY2013 Capital Investment Plan for the Auten Road Extension project that was included as part of the planned 2010 bond referendum. Council plans to designate a replacement transportation bond project at a later date.
- Addition of $5,000 in FY2009 within the FY2009-FY2013 Capital Investment Plan to support the YWCA’s after-school and summer programs for approximately 165 at-risk youth that reside in Charlotte Housing Authority public housing communities. Funding will come from the City Council’s FY2008 Council Discretionary account.
