![]() ![]() Other highlights of the recommended budget include: There are no user fee increases proposed in the FY 2024 operating budget. Overall, real estate tax revenue is estimated to increase 9.5% over the prior year, and the recommended budget is based on maintaining the real estate tax rate of $1.20 per $100 of assessed value. ![]() ![]() This year all property types experienced increases in assessed value. Real estate tax revenue is the largest single revenue source for the City. By allocating these funds in the current fiscal year, these safety enhancements can be operational prior to the start of the next school year. Additionally, the City Manager is providing $1.5 million in cash capital funds now to support the FY 2024 Schools request for mobile radios, fire and building alarms, security cameras, and additional metal detectors. The recommended budget also includes $7,444,987 for debt service for school capital projects, plus a separate annual $2 million in cash capital support from the City for school bus purchases. This includes $119,589,307 for school operations, an increase of $3.4 million, and represents full funding of the Interim School Superintendent’s specific request for the upcoming fiscal year. The recommended budget includes a total of $127,034,294 for Newport News Public Schools. "Our goal is to build a better future for every person in Newport News."įunding for education is the largest single component of the annual operating budget. "The heart of the recommended budget is the people and the lives that will be changed through our investment of resources," wrote Rohlf in her transmittal memo. Supporting the City's strategic priorities of People, Places, and Government, the total FY 2024 budget recommended by City Manager Cindy Rohlf is $1,109,372,516, which is 5.6% higher than the current year. The recommended operating budget for the fiscal year beginning July 1, 2023, and ending June 30, 2024, was presented to City Council at its work session yesterday evening. No tax rate or user fee increases proposed NNPS request fully funded ![]()
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