CHANDLER, Ariz. – The Chandler City Council has approved the City’s 2023-24 Budget and the 2024-2033 Capital Improvement Program (CIP), which will become effective on July 1, 2023.
The budget totals $1.66 billion across all operating and capital funds. That figure includes an $800 million operating budget for department expenses, payment of public safety retirement pension unfunded liability, debt service for municipal bonds, and budget contingencies and financial reserves. It also includes $856 million in capital improvements, providing $358 million in new appropriation and $498 million for capital projects that are in progress.
Highlights of the budget:
• Maintains the lowest combined annual cost of services among Valley cities for water, wastewater, solid waste, property tax and sales tax.
• Proposes to reduce the city property tax rate for the 8th consecutive year, pending City Council approval.
• Makes a one-time payment of $73 million to pay-off Chandler’s Public Safety Personnel Retirement System pension unfunded liability.
• Invests $178.5 million in infrastructure projects to support the Intel expansion needed to create new jobs and mostly reimbursed by the State of Arizona and Intel.
• Allocates nearly $209 million toward the sale of bonds, primarily to be used on projects to enhance the city’s streets, parks, recreation, fire facilities, water and wastewater infrastructure.
The City Council will vote to adopt the Property Tax Levy as part of their June 29 meeting at 6 p.m. in the City Council Chambers, 88 E. Chicago St.
Many of the services provided to Chandler residents are financed through the General Fund, including police and fire services, libraries, maintenance of city streets, parks and other infrastructure. General Fund revenues largely come from local City sales tax and state-shared revenues.
Other services are financed through separate self-supporting Enterprise or Utility Funds, which include Water, Wastewater, Airport and Solid Waste services, which come from fees paid by users of the service. Also, other Special Revenue and Capital Project funds support services and the capital program, with revenues that come from the State of Arizona, grants, system development fees and bonds.
For more information about the budget, visit Chandler Budget or call the budget office at 480-782-2254.