GAITHERSBURG – At a public work session at City Hall Monday night, City Manager Tony Tomasello presented the city’s proposed fiscal 2016 budget to Mayor Jud Ashman and the City Council.
“I am happy to report that once again no tax increase is being proposed,” Tomasello said in his introduction to the budget. “The rate would remain at 26 cents per $100 of assessed value. We continue to enjoy what is arguably the best overall financial position of any municipality in the state, despite having one of the lowest property tax rates.”
Overall, the $67.8 million budget is a 14.3 percent increase over fiscal 2015. One of the most significant measures in the budget is the establishment of a new Capital Improvements Plan (CIP) to accurately capture and reflect revenue and expenses related to the city’s stormwater management fee. The budget also contains provisions for the city’s police department to conduct scenario-based training with body cameras, a study to be conducted this summer to determine the feasibility of implementing the Rapid Bus Transit Route and the creation of a biotechnology business incubator in the city.
The public record on the budget will close on May 13. It will be adopted on June 1 and formally implemented on July 1, the first day of the fiscal year. The entire proposed budget may be viewed online at http://www.gaithersburgmd.gov/government/budget-and-strategic-planning