FY2027 expenditures increases the operating budgets of the City Schools and General Government to cover staff salary increases and removes vacant positions. Cuts to street maintenance and affordable housing fund.
The $134 million FY2027 budget is 0.8% less than last year’s but it contains a 3.4% increase for the City and 4.1% for the School operating budgets that require a 6.6% increase in tax revenues to fund it.
3 large transportation projects and expanding sewer capacity are the main reasons for the massive FY2027-2032 CIP. The City is also laying the groundwork for upgrades to the storm water system.
The C&I tax, up to 12.5 cents/$100 of assessed value, would apply only to non-residential commercial properties and be used for expanding transportation infrastructure.
City Council establishes the City’s legislative priorities and positions for the upcoming General Assembly in Richmond.
In the City’s FY2027 guidance, the budget increase relies on a 6% projected increase in single-family home assessments and higher car taxes, while other properties and revenues remain flat. FCCPS staff are to receive a 5% salary hike.
The FY2025 year-end results showed a $2.3 million surplus. Sales tax and meals tax receipts were much lower than expected. Staff recommended using the surplus to shore up reserves and for small projects.
The City Council took steps to raise Planning Commissioners salaries, which, if approved, will go into effect this fall.
City Council raised salaries for Council members and the Mayor in keeping with new Virginia regulations that increase the annual salary caps for these positions.
