MANAGER'S OFFICE

CITY COUNCIL ADOPTS FISCAL YEAR 2023-2024 BUDGET

On June 5, 2023, the Fiscal Year 2023-24 budget was unanimously adopted. The adopted budget totals $478,537,587, a $14,224,261 (3.1 percent) increase from the FY 2022-23 budget.

The budget was initially proposed on May 1, 2023, and City Council held budget work sessions on May 10 and May 18. A public hearing was held at the May 15th City Council meeting. At the May 18 meeting, the City Council approved mayor and city council compensation changes.

The adopted budget includes funding for the City’s Pay for Performance Program (0-4 percent) and increases pay plan minimums by 3 percent. It also provides for the transition of the City’s health plan to self-insured and the creation of a full-service employee health clinic. There is no increase in employee contributions to the City’s health plan. The budget also creates a six-week paid parental/caregiver leave policy.

There is no change in the City’s property tax rate, remaining at 61.75 cents per $100 of valuation. Electric rates also remain unchanged. The adopted budget includes a 4 percent increase in water and sewer rates and increases solid waste availability and stormwater fees by $1 per month, respectively. Other fee increases for customer service, public services and parking were approved.

The budget adds three full-time positions, funds $4.7 million in vehicle and other rolling stock replacements and allocates

$250,000 to the City’s marketing and branding efforts.

The proposed budget document, which was approved with the additions to elected official compensation listed above, can be found at www.highpointnc.gov/Budget.