City Budget Retreat: Financial updates, status reports

February 9, 2018  - Mayor Madeline Rogero and her staff today presented a mid-year budget review and status reports on major City initiatives to City Council.

Finance Director Jim York led a detailed, interactive discussion, presenting information on the City’s General Fund balance and forecast, the City’s all-time high bond ratings, sources of revenue, and trends with real property values, growth in property values, the local option sales tax and the Hall income tax. York also described expenditures by categories, the City’s estimated long-term contributions to the pension fund and factors that will affect the 2018-19 budget.

The annual budget retreat was held at the City’s Public Works Service Center, 3131 Morris Ave. Community Television of Knoxville (CTV) live-streamed the proceedings.

In the second part of the Budget Retreat, Mayor Madeline Rogero detailed the City’s programs aimed at building equity – for example, initiatives to stem the reduction in affordable rental properties, as well as programs aimed at keeping existing housing affordable (such as emergency home repairs and rehabilitation of owner-occupied homes). 

The Mayor detailed ways the City is supporting development of new housing and partnering with nonprofits to maximize resources. In addition, the City created a $2 million Affordable Rental Housing Development Fund last year.





Other topics addressed by Mayor Rogero:

• Efforts to help families and individuals experiencing homelessness; 
• Disability services and the Visitable Housing Initiative; 
• Support for minority-, women-, service-disabled- and veteran-owned businesses;
• Save Our Sons, job fairs and assistance with the development of The Change Center; and
• Employment opportunities – Summer in the City high-school internships, Second Chance employment for disadvantaged individuals, and Fleet Services paid mechanic apprentices.

Deputies to the Mayor David Brace and Bill Lyons closed the retreat with updates on major infrastructure projects:

• 52 miles of paved streets, 18,616 feet of sidewalk installed or replaced;
• Streetscape projects on Central Street, Magnolia Avenue and Jackson Avenue;
• World’s Fair Park investments;
• Additional amenities in the Urban Wilderness; and
• Upgrades to be made to the Knoxville Civic Auditorium and Coliseum.

Friday's budget retreat was the first step in the public process of preparing a budget for the 2018-19 fiscal year.

Next, department directors will discuss their goals and priorities during the March 19-21 Mayor's Budget Hearings, and Mayor Rogero will present a budget proposal at the April 27 State of the City luncheon.

City Council then will vote twice on the budget at its May 8 and May 22 regular meetings. In-between the votes, Council will conduct its Legislative Budget Hearings on May 17.


BUDGET LINKS OF INTEREST

2018-2019 Budget Info
Six Month Financial Report [PDF]
Budget Retreat Presentation - Financial Update [PDF]
Budget Retreat Presentation - Equity & Infrastructure [PDF]
Budget Archives (Budgets from years 2001-current year)


BUDGET CALENDAR

February 9, 2018 - City of Knoxville Budget Retreat and Six Month Financial Report released.
February - April, 2018 – Departments Submit Budget Requests, Base Numbers Calculated, and Capital Budget Prepared
March 19-21, 2018 - Mayor's Budget Hearings 
April 27, 2018 - Mayor's State of the City Address
May 8 2018 - First Reading of Budget & Tax Ordinances
May 10, 2018 - MPC Hearing on Capital Improvement Program
May 17-18, 2018 - City Council Budget Hearings & Public Hearing
May 22, 2018 - Second Reading of Budget & Tax Ordinances