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City of Cordova PO Box 1210 • 601 1st St • Cordova, Alaska 99574 • (907) 424-6200 |
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FOR IMMEDIATE RELEASE
December 16, 2022
City Council Approves City Budget for FY23
City of Cordova is pleased to announce the FY23 (Fiscal Year 2023) budget was approved by City Council on December 7th. The budget shows an increase over FY22 as City rebuilds its capacity, post COVID, to deliver expected services to the community. The FY23 budget is the result of hard work by City departments to balance delivery of service with budget constraints. Staff is committed to continue its efforts to become more efficient and effective and find new revenue during FY2023.
The FY23 budget represents a cautious approach to revenue with no increase in property tax revenue and modest fee increases for commercial and industrial users of water/sewer/refuse. Parks & Recreation, Cordova Center, and Harbor are the only departments that have increased their fees to bring revenues more in line with user costs.
The FY23 budget both reinstates and adds critical positions needed to maintain and fill deficiencies in City service within the Parks and Recreation and Public Safety departments and build capacity to leverage one-time federal infrastructure funding. The budget includes wage increases for employees represented by the IBEW as well as for exempt staff.
A capital budget will be presented in early FY23. City will publish a comprehensive budget book for the public to reference. It will contain detailed information about how every department and enterprise fund in the City receives and expends City resources.