It’s the time of the year for budgets, and the city of Fayetteville took their first official look at the proposed FY2020 budget at their June 20 city council meeting.
With the new city hall project looming, it’s a crucial year for Fayetteville, and they are ready.
“It’s a good budget,” said Director of Finance Mike Bush. “We are preparing for a busy year. We’re ready for it, and I think this budget will be a good one.”
The proposed FY2020 budget comes in at a total of $31,748,114, an increase of $1,732,831 from last year.
More than half of general fund revenues come from taxes at 53 percent ($10 million), with Local Option Sales Tax next at 26 percent ($3.9 million).
The lion’s share of general fund expenditures goes towards public safety at 59 percent.
“We spend a good portion of our money on salaries and benefits, therefore we keep our employees happy and we keep them for a long time,” said Bush.
City Council is expected to vote on the proposed budget at their next meeting on July 18.