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Proposed Sherwood City Budget Released
Council Goals related to Police Staffing and Economic Development are Key Components in Proposed Budget
Today Sherwood City Manager Joseph Gall released the proposed budget for Fiscal Year 2019-20. The total budget proposed for FY2019-20 is $39.4 million, an 18.2% increase from the current adopted budget for this fiscal year. A significant portion of this overall increase is tied to a $4.6 million increase in the city’s water fund due to long-planned seismic and other improvements to the water system infrastructure. This includes $15.2 million for General Fund operations, a 6.7% increase from the current fiscal year.
“This year’s proposed budget focuses upon two of the major priorities identified by the City Council earlier this year in goal setting,” said Joseph Gall, City Manager. “The first priority is to start adding additional staff in our Police Department with three proposed new positions. The second priority relates to a renewed emphasis on Economic Development with the addition of a new Economic Development Coordinator position.”
While the city’s financial position is currently in a strong position, this proposed budget continues to absorb ever-increasing PERS costs with an additional $480,621 in expenses dedicated toward the state pension system. “Without significant PERS reform from the legislature, our financial future will continue to be challenging over the next five years with more limited resources going toward PERS versus programs and services for our citizens,” stated Gall.
The public hearing process will begin at the Sherwood Budget Committee on Thursday, May 9th at 6:00 pm with subsequent meetings scheduled for May 16th and 23rd, if necessary. All community members are invited to attend and participate in the budget process. Please visit www.sherwoodoregon.gov/finance for regular budget updates and to review the proposed budget.
For more information, please contact Katie Henry, Finance Director for the City of Sherwood at 503.625.4248 or by email at henryk@sherwoodoregon.gov
