Mayor G.T. Bynum presented the proposed Fiscal Year 2017 - 2018 budget to the Tulsa City Council this evening focusing on the vision of making Tulsa a globally competitive world-class city.
The total proposed budget is $824 million, which includes all city funds, operations and capital funding from Improve Our Tulsa and Vision Tulsa. The general fund, which funds most core services and operations, is funded at $269 million.
“With help from my colleagues on the Tulsa City Council, I believe we have developed an initial budget proposal that will set Tulsa on a new course,” Mayor G.T. Bynum said. “Having a safe, well-maintained and innovative city is just as important for our economic growth as it is for our civic pride. This budget represents a commitment to taking action now that will make Tulsa a more globally competitive city in the years ahead.”
The City expects a flat growth rate in the general fund for the upcoming fiscal year, but priority investments for citizens will be possible due to Vision Tulsa program funding, modest adjustments in general fund revenue projections, department growth restrictions and revenue from Amazon internet sales.
The Tulsa Metropolitan Utility Authority (TMUA), the entity responsible for water and sewer, is requesting annual rate adjustments based on a five-year asset management plan to keep up with the City’s aging underground facilities that requires investment now to ensure the same quality and reliable water for generations to come. The water rate increase was initially projected at 6 percent, but will stay at 4 percent this fiscal year.
The Tulsa City Council will review and discuss the mayor’s proposed budget and must approve a budget for the upcoming fiscal year by June 22. After the budget has been approved, Fiscal Year 17 -18 will begin July 1.