On Friday, Austin City Manager T.C. Broadnax presented his proposed budget for the upcoming fiscal year. The proposed $5.9 billion budget represents an increase in spending of $400 million from this year’s current $5.5 billion budget.
Included in the proposal is a 4% civilian employee wage increase, as well as an increase in minimum wage for public sector workers to $21.63 per hour.
$1.4 billion would be budgeted for the general fund.
Broadnax also proposed a 3.5% property tax increase, which is the highest allowed by law without voter approval. That would increase tax bills for the average homeowner by $8.52 per month.
Earlier in the year, city officials predicted the city would enter the next fiscal year with a $13 million deficit, but Broadnax said he was able to wipe that out and balance the budget without any cuts to services. However, the budget, he said, leaves little room for new initiatives, and if trends continue, Austin could have a deficit by 2027.
CLICK HERE to see the budget proposal in its entirety.
