Rockville to Take First Peek at Next Year’s Budget
Community members will get their first look at Rockville’s fiscal year 2016 budget on Nov. 24, as the Mayor and Council are scheduled to hear a preview from city staff and discuss their vision for the upcoming year.
The Mayor and Council plan to address Rockville’s water and sewer funds, rates and rate structures before undertaking work on the FY16 budget. A recent comprehensive study by an outside consultant recommended water and sewer rate structure changes and increases over the next six fiscal years to address deficits in the funds. The financial health of the funds is one of the most significant financial issues facing the city, according to the city’s press release.
Watch the budget preview during the Mayor and Council meeting at 7 p.m. on Nov. 24:
• In person, at City Hall, 111 Maryland Ave.
• On Rockville 11 (cable channel 11).
• Live streaming at www.rockvillemd.gov/rockville11.
• On demand at www.rockvillemd.gov/rockville11. (Video is typically posted within 48 hours of the meeting.)
The City invites public input on the budget at hearings and by email to email@example.com.
A second preview, to include a discussion of the Mayor and Council’s budget priorities, is scheduled for Jan. 5. A third and final preview, focusing on major changes and property taxes, is scheduled for Feb. 9.
The formal introduction of the city manager’s proposed budget, and the Mayor and Council’s first worksession, are scheduled for March 23. The Mayor and Council are scheduled to hold public hearings and additional worksessions on March 30 and April 13. A final public hearing is scheduled for April 20, with the public record closing on April 21.
The Mayor and Council are scheduled to hold a final worksession on May 4. Final adoption of the FY16 budget is scheduled for May 18.
The adopted operating budget for fiscal year 2015, which runs through June 30, totals $118 million. The adopted FY15 general fund budget, which accounts for most of the City’s daily operations, is $70.4 million. Property taxes are the largest source of revenue for the general fund. For FY15, the property tax rate is flat for the seventh consecutive year, at $0.292 per $100 of assessed value.
For more information, visit www.rockvillemd.gov/budget or call the Finance Department at 240.314.8400.