The approved Fiscal Year 2023-2024 Budget is now available online. Effective July 1, 2023.
Balancing the budget at the City of Tulsa is not much different than balancing a budget at home. The money going out must not exceed the money coming in. State law requires the City of Tulsa to have a balanced budget.
The City of Tulsa receives its money from several major sources, including five local taxes: sales tax, use tax, franchise tax/right-of-way user fees from utility companies, hotel/motel tax, and ad valorem tax. Other sources include enterprise revenues from airport charges, golf course fees, and utility services - water, sewer, refuse and stormwater. The City also obtains revenue from licenses and permits, culture and recreation facilities, municipal court fines, public safety fees, interest earnings, federal grants and shared revenue from state government.
Perhaps the most familiar sources of City of Tulsa funding are the ones for which elections are held every few years. These include General Obligation Bond Issues and extensions of the Third Penny Sales Tax - Improve Our Tulsa and Vision Tulsa. Both of these sources are used exclusively to construct capital improvements like roads, bridges, sanitary sewer improvements, flood control funding, and other critical needs identified by citizens, the Mayor and Council.
The City of Tulsa uses its money to provide services in the following areas: public safety and protection, public works and transportation, cultural development and recreation, economic development and administrative support services.