The 2023-2024 fiscal year budget for the City of Greensboro will be presented at the Tuesday, May 16 City Council meeting.

Technically, City Manager Tai Jaiyeoba will present the manager’s recommended budget at the meeting, which begins at 5:30 p.m. in the Katie Dorsett Council Chamber.

However, the City Council rarely makes any significant changes to the manager’s recommended budget. Last year the City Council had requested a budget with a tax rate that was revenue neutral, or close to revenue neutral.  Jaiyeoba’s recommended budget had a tax rate that was equivalent to an 11.69 cent tax hike.  At the request of several councilmembers, Jaiyeoba lowered the tax hike to 8.69 cents without cutting any expenditures but, in part, by increasing the projected amount of revenue from other sources such as sales tax and the utility tax.

The City Council usually does not discuss the budget at the meeting when it is presented but holds that discussion for the budget work sessions, which are scheduled for the following week.

A rezoning request for 3450 and 3456 McConnell Road that was expected to take a significant amount of time is being withdrawn. However, there are two rezoning requests still on the agenda – one for 4209-R-1 Summit Avenue and the other for 1921 New Garden Road.

An item on the agenda, which some will interpret as bad news, isn’t.  There is an ordinance to amend the War Memorial Coliseum Complex Fund by $11.1 million. According to the agenda, “Additional appropriations are necessary to allow operations through the end of the fiscal year.  These projected additional expenses and revenues are due to better than anticipated event activity compared to what was budgeted for the FY 22-23 process, including high attendance concerts in the months April through June.”

Since the total budget for the Coliseum was $34.1 million, an increase of $11.1 million indicates the increase in revenue brought in by the Greensboro Coliseum Complex is significant.

 

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