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FY2016 Adopted Budget Highlights


Total Budget: Strategic, Sustainable, Creative; Balanced in All Respects

  • The FY2016 Total Budget for the City of Charlotte is balanced at $2.12 billion, an increase of 1.0% above FY2015 (includes Operating & Capital for General Fund and Enterprise funds)  

 FY16 Adopted Budget Highlights_Page_1.jpg

General Fund Budget: Everyone Shares in Meeting the Challenges of a Balanced Budget in Response to $21.7 Million Revenue Gap Resulting From External Factors

  • The FY2016 General Fund budget is $520.96 million (net of transfers) an increase of 1.02% over the prior year – balanced in multiple ways: 
    • General Fund Service & Expense Reductions = $6.78 million and 100.75 positions cut, for example:
      • Reduction in hours for the CharMeck 311 service (closed weekends & holidays)
      • Reduction in Code Enforcement
      • Reduction in mowing of street rights-of-way
      • Elimination of non-essential vacant positions
    • Tax Rate Adjustments (tax rate change from 46.87¢ in FY2015 to 47.87¢ in FY2016);
      • Property tax rate increase of 1.00¢ per $100 of assessed valuation
      • Reduction of the $47 annual Single Family Residential Solid Waste Fee to $25, increase to the Multi-Family Solid Waste fee from $24 to $25, and implementation of a Solid Waste Small Business fee of $250 per year
      • Transfer 0.41¢ of Property Tax Rate from Debt Service Fund to the General Fund
    • Regulatory User Fee Rates Reduce General Fund Subsidy from 16.7% to 7.6% = $1.3 million additional revenue

 

Community Investment Plan: Protects Today and Invests in Our Future

  • Capital Budgets continue to support all specifically identified projects and makes no changes to the Community Investment Plan adopted by the Council and partially funded by voter-approved bonds in 2014.
  •  The FY2016-FY2020 five year General Community Investment Plan totals to $749.2 million, comprised of the following categories: o Housing and Neighborhood Development: $218.6 million
    • Transportation: $343.5 million
    • Economic Development: $60.5 million
    • Environmental Services: $16.5 million
    • Facility Investments: $110.1 million
  • The General Community Investment Plan is supported by the approved FY2014 bond referendum and two proposed bond referenda in 2016 and 2018. A fourth bond referendum in 2020 will be reflected in future five-year Community Investment Plans beginning in FY2017.

 

Enterprise Funds’ Operating Budgets: Balanced With Self-Sustaining Revenues

  • Aviation = Additional 49 positions to keep up with service complexity and customer demand
  • CATS = Additional 5,000 revenue service hours; Adds 35 project positions for maintenance, acceptance start-up, and testing of the new rail cars for the Blue Line Extension 
  • Storm Water Services = Revision to 4-tier rate methodology to continue addressing backlog o 61% of Storm Water residential customers will see no change to monthly bill
  • Charlotte Water = Rate methodology changes to eliminate the Tier 1 subsidy and respond to changing economic and regulatory conditions o Typical water and sewer bill increases by $1.55 per month

 

Employee Compensation: Invests in Employees; Pay Plan Reduced Below Benchmark Average

  • Budget has been cut to include a reduced Pay Plan to assist in recruitment and retention; Benchmark average for FY2016 is 3.0%, but funded at lower rate: o 0.75% Public Safety market adjustment,
    • 2.5% or 5.0% Public Safety step adjustment based on rank and current step,
    • 1.5% Broadband merit budget (for all other general employees) 
    • Adjust salaries of 88 employees who are below 60% of the Area Median

 

Total Tax & Fees Impact: Remains a Strong Value to the Community

  • A $10.71 annual increase (89¢ per month) for property owners at 50th percentile home value ($141,100); includes property tax adjustments, residential solid waste fee reduction, and changes to water & sewer and storm water rates.  
 
City of Charlotte taxes & fees
50th percentile home value
Prior Year
FY2015
FY2016
Budget
$
Change
%
Change
Property taxes on $141,100 home
$661.34
$675.45
$14.11
2.1%
Solid Waste fee (Residential)
$47.00
$25.00
($22.00)
(46.8%)
Water & Sewer (Average user rate)
$682.80
$701.40
$18.60
2.7%
Storm Water (Average user rate)
$97.56
$97.56
$2.88
0.0%
Total Annual
$1488.70
$1,499.41
$10.71
0.7%
  Total Monthly
$124.06
$124.95
$0.89
0.7%