Fresno, CA (KMJ )- Fresno Mayor Jerry Dyer was presenting his proposed 2025 Budget in front of City Council Thursday.
Fresno’s overall budget is nearly $2 billion dollars, the General Fund is nearly $483 million, but increasing expenses are outpacing revenues.
There’s a $47 million dollar deficit from paying for PG&E services and other costs
Mayor Dyer plans to make department cuts, and revenue adjustments and use American Rescue Funds to balance the budget, which must be adopted by June 30, 2024.
The City of Fresno’s long-term financial condition remains healthy.
In May, the city’s credit rating was once again upgraded.
Listen to the reports by KMJ’s Liz Kern.
MAYOR’S PRESS RELEASE:
FRESNO, CA – Mayor Jerry Dyer presented the City of Fresno’s proposed Fiscal Year (FY) 2025 budget at City Hall Council Chambers Thursday.
The FY25 Budget totals $1,991,205,100. Of that, the General Fund accounts for $482,919,100, while Enterprise and Internal Services total $898,684,400. The remaining $609,601,100 is comprised of special revenue sources such as Measure C, Measure P, various grants, and other capital funds.
The City’s long-term financial condition remains healthy. So much so, that in May 2024, the City’s credit rating was once again upgraded. All three major credit rating agencies – Standard & Poor’s, Moody’s and Fitch agree the City’s financial position is strong and improving.
“I am confident the City will continue to find innovative ways to provide high levels of service delivery while prioritizing public safety, including record numbers of police officers and firefighters,” said Mayor Jerry Dyer. “Also prioritized are quality of life and beautification issues important to our residents, as well as the economic development opportunities that are essential to Fresno businesses.”
Unlike previous budget cycles that contained a substantial amount of one-time funding, the proposed FY25 Budget reflects the reality of increasing expenses that are outpacing revenues.
There are several strategies taken to balance the budget. That includes bonding, leasing vehicles and equipment, use of one-time American Rescue Funds, revenue adjustments, department cuts, and such.
