Budget Brief: City’s Financial Position & Look Ahead

Published on April 17, 2025

City Budget Brief On the City’s Financial Position & Look Ahead Managing Through Uncertain Times.png

Every April the City’s annual budget process begins. This year’s budget reflects the second year of the City’s two-year financial planning strategy, enabling stability through use of one-time funds and proactively planned reserves to fill short term gaps and continue services to support community needs. Recognizing national and international economic volatility, this budget cycle will continue to prepare for a range of economic conditions and uncertainties ahead. A new community update is the first in a series of three on the City’s budget process and ways to engage.

This first update offers a summary of the proposed utility rate increases to ensure continued safe, reliable, environmentally sustainable, and cost-effective operations for electric, natural gas, wastewater and water services. Proposed Utility Rate increases seek to support infrastructure upgrades, safety and ensure adequate reserves. The estimated median residential monthly bill change, if the proposed rate changes go into effect, is $44/month. Despite these increases, utility rates and customer monthly bill costs remain competitive with neighboring cities and lower than other utilities. Additionally, the City is taking measures to keep costs down and offering resources to support customers.

Read the Update.