FINAL ADOPTED BUDGET FY2022-23

CITY MANAGER'S BUDGET MESSAGE

Mayor and City Council, City of Greensboro

May 23, 2022

In accordance with the General Statutes of North Carolina, and on behalf of our team, I am pleased to submit for your consideration the Manager s Recommended Fiscal Year 2022 23 Budget. The budget is balanced and was prepared in accordance with the provisions of the North Carolina Local Government Budget and Fiscal Control Act and the policies of the North Carolina Local Government Commission. The Recommended FY 22 23 Budget fulfills my obligation to present a balanced fiscal plan for your consideration. It incorporates the priorities and policy direction communicated by the Mayor and City Council and reflects the City Council s commitment to responsible fiscal management, while continuing to provide services that improve the quality of life for the citizens of Greensboro and our 3,000+ employees. The budget is balanced with a tax rate of 66.25 cents. This is the same total property tax rate as the current year but is 11.69 cents higher than the revenue neutral rate of 54.56 cents. The revenue neutral rate incorporates the impact of the 2022 county wide property revaluation. While uncertainties resulting from the pandemic persist and our recovery is gradual, the recommended budget puts our city in a position to emerge stronger from the effects of the COVID 19 pandemic. This budget is driven by the City s philosophy of providing people centered, data informed, and purpose driven service delivery. The recommended FY 22 23 budget is submitted subsequent to exciting, recent and significant jobs announcements in our city and region, creating more than 4,500 jobs by Toyota EV Battery Plant, Boom Supersonic, Publix Distribution Center, and other investments in our community. These breakthrough economic announcements have direct impacts on our city s growth and well being. The FY 22 23 budget is aptly themed: Building on our Growth Momentum . With this in mind, this budget makes plans and projections for the near future in a prudent, visionary, and pragmatic manner to accommodate growth in an equitable manner while investing in our most important resource: our 3,000+ employees. The recommended FY 22 23 budget reflects increases that put us in a position to meet the expectations that come with recent and anticipated growth. Much of the growth in the proposed budget represents an effort to invest in critical areas such as appropriate staffing, increasing our fund balance, providing adequate facility maintenance, and delivery of services at the high levels expected from residents, visitors, and customers. The recommended FY 22 23 budget addresses Council s strategic priorities, adopted in 2021 and listed below:. Council 2021 Strategic Priorities Raise per capita median household income by 15% by 2025 Form partnerships to increase committed affordable housing 0 to 30 AMI and 30 to 60 AMI by 1,000 units by 2022 Reduce violent crime overall by 20% by 2022 Bring the fund balance to 25% of our annual budget by 2027 Increase by 20% the number of people that can reach their place of employment without the use of their personal vehicle by 2023 Implement a long term plan for recycling by 2023 Implement a plan to receive the GOLD LEED for cities by 2023 The budget recognizes the need for a reorganization of our structure to more effectively respond to the needs of growth. This budget continues progress toward Council's desire to support and provide for our employees. Thus, the budget includes over 68 positions added to the organization in order to meet operational needs and community expectations. In an effort to recover from the effects of the pandemic, the city was fortunate to receive $59 million from the federal government in the form of American Rescue Plan funds to support local governments in a variety of ways. To date, staff has recommended

Adopted 2022-23 Budget

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