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SARATOGA SPRINGS — Saratoga Springs approved $61.29 million budget in 2024 points to a 7.5% increase from the previous year’s spending plan.
“This budget pays for our 24/7 low barrier homeless shelter operated by RISE – a historic first for our city, as well as monies set aside for sidewalks and complete streets,” returning Finance Commissioner Minita Sanghvi said. “We are a growing city – our public services must keep pace with that growth.”
The 2023 proposed budget includes $36 million for Public Safety, approximately a $2 million increase from the 2023 Adopted Budget and a $6 million total increase from 2022 Public Safety budget numbers.
Additionally, a $2.2 million ladder truck was added to the Capital Budget to ensure the Public Safety department could place the order as there have been significant delays in the build time for such trucks, Sanghvi said. Public Safety made up 59% of the 2024 Proposed Budget.
The Department of Public Works makes up 20% of the 2024 Proposed Budget with almost $12 million followed by Mayor and Finance department at 7% each and then Recreation and Accounts at 5% and 3%, respectively.
The Council also approved the use of $3.07 million in fund balance as well as a tax increase of 2.99% to provide the revenues budgeted.
The proposed tax rate for the inside district will be $6.82 per thousand of taxable assessed value, and for the outside district the rate is $6.75 per thousand of taxable assessed value.
This works out to an additional $3.32 per month for a home in the inside district assessed at $200,000, and $6.63 per month for a home assessed at $400,000. For property owners in the outside district, the rate increase will be $3.25 per month for a home assessed at $200,000, and $6.50 for a home assessed at $400,000.
The Council also approved the 2024 Proposed Capital Budget of $6.6 million. Two capital projects will be funded using 2022 Excess Fund Balance: renovations to the ice rink, and upgrades to the Hathorn Spring.
All of the water and sewer projects reviewed by the Capital Program Committee will be funded as requested by the Department of Public Works. This includes over $1 million for maintenance of the city’s Water Treatment Plant.
