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The original item was published from 3/10/2020 9:00:55 PM to 3/10/2020 9:02:08 PM.

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Fredericksburg News

Posted on: March 10, 2020

[ARCHIVED] FY 2021 Recommended Budget Released

FY21-Budget Image

On March 10 the city manager’s recommended budget was presented to council. It is a balanced budget that represents a responsible spending plan including no recommended increase to the real estate tax rate. Since the City’s four-year assessment is currently concluding, equalization adjustment will be made to the current combined rate of $0.85 per $100 in valuation. More information will be available when the assessment is complete in April 2020. The recommended budget also includes a 4% salary increase for all employees effective October 1, 2020.

The total General Fund budget for FY 2021 is recommended to be $103,478,725 - an increase of $2.3 million over the FY 2020 adopted budget ($100,174,00). 

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