BUCKEYE — A $520 million budget ought to have a lot in it.
That’s the case for the city of Buckeye’s final fiscal 2023 budget — both on the revenue and expenditure sides.
With revenue pouring in, aided by massive spikes in development fees and local taxes, Buckeye is poised to take on a number of new expenses, initiatives and projects during fiscal 2023, which began July 1.
However, Buckeye, one of the fastest-growing cities in the U.S. with more than 100,000 in population, has a lot of resident needs to catch up on. Those include roads, infrastructure and public services.
The city’s 2023 budget includes more than 50 new city jobs and does not include $21 million reserved for capital improvement projects.
One main expenditure will be purchases related to acquiring water. There is $80 million in the city’s FY23 capital outlay budget just for water rights.
City Finance Director Bill Kauppi said the general fund was increased by $4 million following a budget workshop but before the City Council approved the tentative budget on May 17 just to account for water debt.
“It looks like we’re going to be acquiring some debt to purchase some water,” Kauppi said. “And we might have to start servicing that debt within this next fiscal year.”
Council also approved a $170.48-per-$100,00 valuation property tax rate as part of the fiscal 2023 budget.
That’s a slight decrease from last year as property valuations rose and the number of properties sold increased dramatically.
Fiscal 2023, for Arizona municipalities, ends June 30, 2023.
The $256 million capital outlay will include $75 million in water and wastewater infrastructure projects and $21 million earmarked for specific capital improvement projects.
The city’s budget also includes $8 million for the “scalloped streets” program where the city shares expenses of widening and construction of items such as curbs, sidewalks, gutters and lighting with property owners.
Debt service and personnel are expected to cost the city $111 million in FY23. This will incorporate newly restructured police and fire salary schedules.The city is budgeting $93 million for operating expenses and keeping $60 million in contingency funds.
In revenue, the city is projected to take in about $126 million more in FY22 than it did in FY21, going from $261 million to $387 million.
While bond proceeds and grants account for much of that increase, license and permit revenue went up by 8.5% over the FY21 total and sales tax revenue went from $52 million in FY21 to an estimated $70 million in FY22.
Jason W. Brooks is a News editor for the Daily Independent and the Chandler Independent.
He covers the Chandler area for both yourvalley.net and the monthly print edition while writing for and assisting in the production of the Daily Independent.
Brooks is a well-traveled journalist who has documented life in small American communities in nearly all U.S. time zones.
Born in Washington, D.C. and raised there and in suburban Los Angeles, he has covered community news in California, New Mexico, Arkansas, Iowa, Nebraska and northern Arizona.
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