(Pocatello for Accountable Government Entities, June 25, 2023)
MORE “NEED TO KNOW” information for Pocatello Residents:
Two City of Pocatello Budget Development Meetings are scheduled this week:
- Wednesday 06/28/23 – 9 a.m.
- Thursday 06/29/23 – 9 a.m.
What is being planned for the FY2024 Budget?
A WHOLE LOT OF NEW SPENDING!
What is the plan to pay for it?
The LARGEST (PROPOSED) TAX ASK PERCENTAGE INCREASE (7%) seen in at least a decade plus increased (estimated) state tax revenue plus the use of reserves.
NOTE: The use of reserves for ongoing expenditures is prohibited by City Financial Policy.
Proposed (Not yet final):
The maximum city levy (tax ask) of 3% + new construction + annexation
+ an additional 1% foregone (for Operating & Materials)
+ an additional 3% foregone for Capital expenditures.
= 7% total increase in the City “Tax Ask”
= 7% total increase in the City “Tax Ask”
*Even with all the increased revenue, the budget document reflects a $1M deficit. Also, it is doubtful this 1st draft includes the new “Minimum Revenue Guarantee” (MRG) they’ll need for the new MRG contract with DELTA (est. $1.5 – $1.7M) or that it includes restoration of any of the revenue pilfered away from Fund 78 (capital expenditures) back in FY21.
FY24 BUDGET PRESENTATION DOCUMENT:
06/28/23 BUDGET DEVELOPMENT MEETING AGENDA: https://www.pocatello.gov/…/ViewFile/Agenda/_06282023-1504
06/29/23 BUDGET DEVELOPMENT MEETING AGENDA: https://www.pocatello.gov/…/ViewFile/Agenda/_06292023-1505
