City of Alexandria, VA
Alexandria City Council Adopts Fiscal Year 2010 Budget
On April 27, the Alexandria City Council adopted a $530 million General Fund Operating Budget for FY 2010, a 2.2% decrease of $12 million from FY 2009. The FY 2009 real estate tax rate of 84.5 cents per $100 of assessed value was raised by 5.8 cents to 90.3 cents. The average homeowner’s taxes will increase by $76 annually.
“Alexandria continues to face its most serious fiscal decline in more than 30 years,” said Alexandria Mayor William D. Euille. “However, working together with the City Council and City Manager James K. Hartmann, we have produced a responsible budget that focuses our financial resources on maintaining public safety, building critical infrastructure and protecting the social safety net for our most vulnerable citizens.”
Revenue and expenditure changes from the City Manager’s proposed budget include:
The FY 2010 budget includes the following reductions:
The current economic forecast is likely to affect the City’s budget in FY 2011 and beyond. To begin planning for this possibility, the City Council decided to reduce borrowing for the Capital Improvement Program and allocate $2 million in additional cash to pay for capital expenditures next year. City Council also set aside $2.3 million in a reserve fund in case of a possible revenue shortfall in FY 2010.
“City Council’s actions are the next step in confronting the fiscal challenges we may continue to face next year,” stated Mayor Euille. “The steps we are taking now underscore the need for all of us—City government, residents, and the business community—to get involved, to volunteer, and to work together in helping our friends, neighbors, community and City navigate through what may be difficult times ahead.”
For more information, contact Tony Castrilli, Director of Communications, Office of Communications, at 703.888.7166 or firstname.lastname@example.org