Fiscal 2023 Executive Summary Introduced to BOE

The Fiscal 2023 Executive Summary was released this morning and the Board of Estimates passed the Fiscal 2023 Ordinance of Estimates. The next step in the process is the Ordinance of Estimates will be introduced to the City Council on May 16, 2022.

The proposed budget is a total budget of $4.1 billion, $3.3 billion for the operating budget and $792 million for the capital budget. There are three major changes in the budget compared to the Preliminary Budget.

State funds in the capital budget are $88 million higher due to the additional funding that the City received from the end of the legislative session. Highlights include additional funding for:

  • Fire stations ($10 million)
  • Police stations ($10 million)
  • ADA infrastructure ($10 million)
  • Park Heights Library ($5 million)
  • Druid Hill Park reservoir ($17 million)
  • Solo Gibbs Park ($3.5 million)
  • Mt Vernon Place ($2.5 million)
  • Druid Health building repair ($2.0 million)
  • Patterson Park pool ($2.0 million)
  • Riverside Park Pool ($1.6 million)
  • Warner Street entertainment complex ($2.0 million)

 

Federal funds in the capital budget were reduced by $38 million because it was determined that new appropriations are not needed for ARPA projects, since those were appropriated in the Fiscal 2022 budget.  

 

The General Fund revenue estimate was increased due to the City’s receipt of a “hold harmless” award for the State Income Tax Disparity grant.  This grant was scheduled to decline due to the City’s growing per capita income tax receipts in comparison to other jurisdictions. Additional funds were dedicated to the following projects:

  • Vacant housing ($1.3 million)
  • Fair Election Fund ($2.0 million)
  • Economic development ($6.0 million)

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