Mayor’s Office of Communications
55 Trinity Avenue, Suite 2500 • Atlanta, Georgia 30303
FOR IMMEDIATE RELEASE: 06/18/12
Mayor Kasim Reed’s FY 2013 Budget Approved 12-2 by the Atlanta City Council
$542 Million General Fund Budget Includes funding for APD force of 2,000 officers and Boosts City’s Reserves to More Than $110 Million; No property tax increase for the third year in a row
The Atlanta City Council voted 12-2 on Monday for the $542 million 2013 fiscal year budget put forth by Mayor Kasim Reed and his administration.
For the first time in the city’s history, the Atlanta Police Department will meet the long-established goal of 2,000 police officers. Additionally, the budget increases the city’s reserve fund, which totaled $7.4 million when Mayor Reed was inaugurated, to more than $110 million. This year’s budget increases funding for economic development, doubles the financial support for arts grant funding from last year, and strengthens public safety in Atlanta.
“The City of Atlanta’s fiscal budget for 2013 includes vital investments for public safety and puts us in a very strong financial position,” said Mayor Reed. “Despite having a decline in projected revenues, we have more than $110 million in cash reserves and the funding needed to help us achieve a police force of 2,000 officers. I am pleased to partner with the Atlanta City Council on a spending plan that, once again, does not increase property taxes for our residents.”
While general fund revenues are projected to be at a 10-year low and nearly $120 million below fiscal year 2008 due to the economic recession, the Reed administration’s strong fiscal management has enabled the city to keep approximately 20 percent of general fund in reserves for the first time in the city’s history.
“The City’s healthy reserve strengthens our position with rating agencies and will allow for potential bond financing in the future,” said Chief Financial Officer Jim Beard.
Key priorities in this year’s budget include:
“Under Mayor Reed’s leadership, we have worked diligently to produce a fiscally prudent budget that not only puts a significant amount aside for reserves but makes critical investments in our police force and improved city services for our residents,” said Interim Chief Operating Officer Duriya Farooqui. “Through better management of the budget during the year and a laser-sharp focus on the Mayor’s top priorities, such as public safety, we are moving Atlanta forward in an unprecedented manner.”
The fiscal year 2013 budget takes effect on July 1, 2012 and a full copy of it can be found at www.atlantaga.gov.
# # #
For more information about the City of Atlanta, please visit http://www.atlantaga.gov or watch City Channel 26. Follow the City of Atlanta on Facebook and Twitter @City_of_Atlanta. Follow Mayor Reed on Facebook and Twitter @Kasim Reed.