At its regularly scheduled meeting Monday night, the Norfolk City Council voted 8-0 to approve the City’s Fiscal Year 2022-2023 annual budget.
“The Norfolk City council would like to acknowledge the hard work of Randy Gates and Sheila Rios along with the rest of the City staff in preparing this year’s city budget. The budget they brought forward shows the city to be in one of the strongest financial positions in recent memory. They continue as a staff to do excellent work for the citizens of Norfolk,” said Rob Merrill, Norfolk City Council President.
“The city’s fiscal health is strong, as reflected in robust beginning fund/emergency reserves and an enhanced level of city services matching up with community growth,” said Mayor Josh Moenning. “This budget continues to support our community’s steady growth. It addresses infrastructure needs, promotes public safety, and enhances quality of life – all while maintaining one of the lowest property tax levies among cities in the state.”
“The City’s assessed valuation grew over $283 million or 14.86% last year and is now almost $2.2 billion. Most of this increase is due to the large annexation last fall and new construction. The City’s growth is also evident in sales tax revenue which is budgeted to grow $1.4 million next year or 14.73%. These numbers reflect the strong local economy,” said Randy Gates, City Finance Officer. “This budget provides for a slight decrease of about .3 cents in the City’s levy rate. The City’s levy rate is expected to remain the third lowest of the thirty first class cities in Nebraska. The additional half-percent sales tax on the November 8 general election ballot is not reflected in this budget, which will be amended if voters approve the ballot measure.”
“The FY 2022-2023 Budget reflects Norfolk's economic growth and continued investment in Public Safety, Quality of Life, Streets, and Public Services. Mayor Moenning, the City Council and our dedicated City staff have built a solid foundation that will leave our community in good financial standing for years to come,” said Andrew Colvin, City Administrator.
Key highlights of the budget are included in the 2022-2023 Budget Plan found HERE.