COLORADO SPRINGS, Colo. (KRDO) -- The Colorado Springs City Council passed the city's 2024 budget Tuesday.
The city made the announcement, saying the general fund budget for 2024 with be $428.3 million, which is $7.2 million more than the 2023 General Fund budget, or a 1.7% increase.
The city said the budget includes four percent salary increases for all sworn police and fire employees and those in the Emergency Communication Center, fully funds the Homeless Outreach Program (HOP) in the fire department’s Community and Public Health Division, and provides matching funds to help fund the construction of critical infrastructure and transportation-related projects. The city also said it plans to cap its 2024 property tax rate in an effort to provide financial relief to residents from increased property taxes.
“The City’s 2024 budget prioritizes the most important needs of our residents to help make Colorado Springs an inclusive, culturally rich, economically prosperous, safe and vibrant city on a hill,” said Mayor Yemi Mobolade. “I'd like to thank our City Councilmembers for their collaboration and diligence in shepherding the 2024 budget across the finish line, which by law must be balanced. For three reasons, this year’s budget was no easy task. Costs are up, inflation is high, and we’re forecasting flattening sales tax. That is why we made prudent cuts across City departments to help make the most of taxpayer dollars while maintaining our ability to provide excellent city services.”
In its announcement, the city also said the 2024 budget includes strategic reductions to City departments, which each identified a 3.4% reduction in spending. Parks, Recreation & Cultural Services, Police, Fire, and Public Works remain the top-funded departments.
The complete 2024 budget is available at ColoradoSprings.gov/budget.