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PRESS RELEASE
May 6, 2024 – On Monday, May 6, 2024, the City of Petaluma released its Proposed Fiscal Year 2024-25 (FY25) Budget. The draft budget is available on the City’s website and will be discussed in full at the Budget Workshop during the May 20, 2024, City Council meeting, which begins at 5pm.
This upcoming fiscal year will be one of important organizational changes, continued focus on leveraging resources (Measure U, Measure H, and others), and new infrastructure investments to benefit the entire community. With the City Council’s recent goals and priorities discussion, the Fiscal Year 2024/25 budget is poised to deliver on a number of key Council goals while also continuing to hone City operations and upgrade service delivery.
City revenues are expected to increase during the budget period, with positive trends forecasted in Property Tax, Sales Tax, and Transient Occupancy Tax. The FY 25 Proposed City Budget sets a City-wide expenditure budget of $312 million, a 9% increase over the current year’s revised budget. The General Fund, the main fund that supports the City’s core service delivery, increases 3.2% next year to $77.4 million. The Operating and Capital Improvement Program Budget book includes detailed goals by department and several priority projects that span multiple departments and disciplines.
The Capital Improvement Program (“CIP”) is a significant portion of the overall 2024/25 budget, at an estimated $57 million for FY 25 and $500 million over the next 5 years. With a combination of Measure U, Impact Fee Funds, Water and Wastewater Enterprise Funds, grant funding, and many other funding sources, the City is making generational investments in virtually all categories of infrastructure to ensure Petaluma is a fun, safe, healthy, sustainable, and well-functioning City for decades to come. Some of the most impactful upcoming projects include safe and complete streets and active transportation improvements, city facility improvements, a new skate park at Lucchesi Park, dredging of the Petaluma River, and water and sewer main replacements, along with many others.
This $312 million investment in the community will help move Petaluma forward and demonstrate leadership locally, regionally, and nationally. Petaluma embraces its future as a responsive, innovative, and effective municipal government organization; and the 2024/25 fiscal year budget represents an unwavering commitment to deliver outstanding services, safe and sustainable infrastructure and climate-first action to our community.
Read the Proposed FY25 Budget document at https://cityofpetaluma.org/documents/fiscal-year-2025-proposed-budget/
For more information, please reach out to Jamieson Bunn, Communications Program Manager, at [email protected].