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Atlanta City Government Proposes Historic $2.75 Billion Budget

May 02, 2024 12:46 PM | Anonymous

Atlanta City Government Proposes Historic $2.75 Billion Budget

Staff Report

Thursday, May 2nd, 2024

The City of Atlanta is proud to announce its proposed budget for the fiscal year 2025, set at a remarkable $2.75 billion. The budget allocates $853.8 million for the General Fund, $1.5 billion for Enterprise Funds and $352.5 million for Other Funds, demonstrating a comprehensive approach to fiscal planning. This budget reflects a strategic approach to financial management, aimed at addressing the evolving economic landscape while prioritizing critical investments for the city's growth and development.

"This budget reflects our shared vision of Atlanta as a City of Opportunity for All,” said Atlanta Mayor Andre Dickens. “As Atlanta's influence expands on the global stage, it's imperative that we prioritize critical investments in our infrastructure, residents, and employees.”

In navigating the post-pandemic economic dynamics, the budget takes into account recent analyses and projections, including a projected slight contraction in inflation-adjusted GDP and expectations of an average inflation rate of around 2.5% per year.

"This budget is a blueprint for Atlanta’s future, balancing sound fiscal management with strategic investments that are responsive to current economic conditions and promote long-term growth and resilience," said City of Atlanta Chief Financial Officer Mohamed Balla.

Key highlights of the proposed budget include:

  • Investments in Human Capital: Recognizing the importance of retaining talent, the budget includes a $24.3 million investment in employee compensation, benefits, and professional development, ensuring a resourceful workforce for the city's future.

  • Commitment to Public Safety: Mayor Dickens' commitment to public safety is evident in significant investments of $29.8 million, including funding for equipment, technology upgrades, and security measures.

  • Affordable Housing Initiatives: The budget commits $17 million to the Affordable Housing Trust Fund, supporting initiatives to provide safe and quality housing for residents and promoting inclusive growth across the city.

  • Infrastructure Development: With a focus on infrastructure, the budget allocates $30 million for capital improvements, including the construction of two new fire stations and addressing long-standing maintenance needs.

  • Continued Investment in Youth: We are continuing investments to pave the way for a brighter future for Atlanta’s future leaders. These investments include: 3 million in Year of the Youth Investments, $1.8 million for the operations of our At-Promise Youth Centers and $2 million for Summer Youth Program and $1.9 million for the Mayor’s Youth Ball.

You can view the Proposed FY 2025 Budget and previous budgets online here.


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