2021 BUDGET MAYOR WALSH PRESENTED TO SYRACUSE COMMON COUNCIL APRIL - - PowerPoint PPT Presentation

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2021 BUDGET MAYOR WALSH PRESENTED TO SYRACUSE COMMON COUNCIL APRIL - - PowerPoint PPT Presentation

Mar 05, 2023 134 likes •329 views

C I T Y O F S Y R A C U S E FISCAL YEAR 2021 BUDGET MAYOR WALSH PRESENTED TO SYRACUSE COMMON COUNCIL APRIL 8 , 2 0 2 0 Coronavirus (COVID-19) Measures to limit the spread of COVID-19 began to impact revenues as City budget was being

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PRESENTED TO SYRACUSE COMMON COUNCIL

MAYOR WALSH

C I T Y O F S Y R A C U S E

FISCAL YEAR

2021 BUDGET

APRIL 8 , 2 0 2 0

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Coronavirus (COVID-19)

Measures to limit the spread of COVID-19 began to impact revenues as City budget was being finalized Thank you for persevering in the face of extraordinary challenge

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Vision

Syracuse will be a growing city that embraces diversity and creates

  • pportunity for all.
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Objectives Guide Budget Planning

Achieve fiscal sustainability Increase economic growth and neighborhood stability Deliver city services effectively, efficiently and equitably Provide high quality constituent engagement and response

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FY 21 Budget Realities

  • $6.1 million projected sales tax decline (6.6%)
  • State AIM stays flat at $71.8 million
  • Federal CARES Act provided some assistance
  • Continued growth in City’s assessed valuation
  • Rapidly changing economic landscape creates uncertainty
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FY 21 Budget Highlights

Total Budget: $253 million (flat compared to FY20) Expenses: Projected departmental spending cut after COVID-19 Highlights:

  • No property tax rate increase
  • Funding for roads and infrastructure,

neighborhoods, parks, police, and fire

  • All city programs and services continue
  • Average $3/qtr. water rate increase
  • $13.9 million draw from reserves
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FY21 Revenue Increases

Positive Impact Finance 1,000,000 One-time amnesty of parking fines and fees Police Services 450,000 Identified additional opportunities Tax Levy 1,500,000 Increased in levy attributable to higher assessed valuation Transfer from Capital Fund 3,700,000 Return of excess reserves accumulated in previous years Total 6,550,000

*Significant impacts

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Budget Overview

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Staffing to enact new lead ordinance

9

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Online permitting and plan review for projects supports investment and jobs

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Protecting public safety

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Investments in road and infrastructure projects

12

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Improvements to our Parks facilities

13

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Improving efficiency, transparency and service to the public

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Driving Resurgent Neighborhoods Initiative, Syracuse Surge and Syracuse Build

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CARES Act provides relief for housing and neighborhood programs impacted by pandemic

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  • Significant revenue

decline due to COVID-19

  • Investments in public

safety, neighborhoods, infrastructure and growth

  • Budget keeps on course

to achieving vision

  • No property tax rate

change

  • Based on what we know

today: ready to work together as picture becomes more clear

Recap

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/SYRACUSE1848

WWW.SYRGOV.NET

Thank You