(COLORADO SPRINGS) — Mayor Yemi Mobolade presented a balanced 2024 City Budget to Colorado Springs City Council on Monday, Oct. 2 with highlights such as funding for public safety, infrastructure, and park maintenance, along with first responder compensation and fleet maintenance.
Three budget priorities, according to Mayor Mobolade:
Building support within government
Building trust with our community
Addressing our most pressing and urgent issues
Three most pressing issues, according to Mayor Mobolade:
Ensuring the safety of our community
Caring for our infrastructure
Maintaining our parks, trails, and open spaces
According to the City of Colorado Springs, the “General Fund budget for 2024 will be $428.3 million, which is $7.2 million more than the 2023 General Fund budget, or a 1.7% increase.”
Mayor Mobolade explained that as the 2023 sales tax revenue has flattened and in some months declined, the same trend is expected in 2024. “The sales tax revenue budget is flat compared to the 2023 budget and a 2.5% increase over the 2023 end-of-year forecast,” wrote the City.
“Looking to the expenditure side of the budget, the cost to provide our existing level of service is increasing. We, as an organization, are experiencing inflation like everyone else. The cost of covering our current commitments will exceed the amount of revenue that we anticipate collecting next year,” wrote Mayor Mobolade in a letter to City Council.
2024 General Fund Highlights, according to the City:
Increased funding of $250,000 for capital costs associated with adding school zones near middle and high schools, with the goal of increasing pedestrian safety at all schools over the next several years. This increased cost will be offset by increased fee revenue.
$8.7 million for salary increases for civilian and Police and Fire sworn employees; step and market increases for Police and Fire sworn, and pay for performance for civilian employees.
$7.5 million for full-year funding for the portion of compensation and positions that were phased in during 2023, increased costs for Police and Fire sworn pensions, and for increased medical plan costs; net of decreases to worker’s comp and life insurance costs that have no impact on benefit to employees.
Elevation of Housing and Community Vitality to a stand-alone department, along with the appointment of a Chief Housing Officer.
$2.2 million of increased funding for insourcing fleet maintenance to increase the level of service and reduce turnaround times.
$1.9 million of matched funding to leverage $15.4 million for critical infrastructure and transportation-related capital projects.
$1 million of increased funding for Information Technology for updating backup technology at the Data Center and establishing a new Disaster Recovery location that will protect the City’s ability to continue to provide services in the event of extreme weather events, a cybersecurity attack or other disaster.
$1.3 million of continued funding for the City’s Americans with Disabilities Act operating and capital projects to maintain and improve accessibility.
$500,000 increased funding to address Information Technology core infrastructure, applications, and cybersecurity.
$2.0 million to fund increased rates for insurance premiums, fuel, and utilities, as well as contractual increases, including animal law enforcement services.
Increased funding of $230,000 in Parks, Recreation and Cultural Services to provide 1.5 positions to provide school programming at Rock Ledge Ranch, additional patrols at Catamount Reservoir during its closure, and additional seasonal staffing at Sertich Ice Center. These costs are directly offset by increased revenue.
Increase of $52,100 for additional services and facility maintenance at Deerfield and Hillside Community Centers (offset by increased revenue).
Increased funding of $1.3 million in Public Works to provide two positions for traffic signal maintenance, a result of an intergovernmental agreement with El Paso County, and for six positions related to traffic control and work in the rights-of-way for telecommunications projects. Each of these positions is directly offset by increased revenue.
$170,000 of additional funding to Mountain Metro Transit for increased contract costs to sustain transit services, and $180,000 increased funding for security at the Downtown Transit Center.
To view the full, proposed 2024 budget click here.
City details upcoming 2024 budget dates:
Oct. 2: Mayor distributes 2024 City Budget
Oct. 6 & 12: Review 2024 budget document with Council Budget Committee
Oct. 16: Council 2024 Budget Work Session
Oct. 23: Public Hearing on 2024 Budget
Oct. 30: Council 2024 Budget Markup Session
Nov. 14: 1st Reading 2024 Budget Appropriation Ordinance
Nov. 28: 2nd Reading 2024 Budget Appropriation Ordinance
