Fiscal Year 23 Budget Update
Fiscal Year 2022-2023 Budget Summary
On Thursday the Metro Council passed the Capital and Operating Budgets. The combined budgets represent approximately $1.27 billion in funding, which is a significant increase from previous budgets due to a combination of a growth in local revenue and an infusion of federal dollars through multiple economic and infrastructure programs. Following two months of hearings, the Council has completed our changes to the recommended budget, and we passed that unanimously.
Here are a few highlights from the Mayor’s budget including some changes that Council initiated:
- Funding for new training center for LMPD as well as funding to open a new LMPD Headquarters in Downtown Louisville
- No additional taxes or fees are planned as part of this year’s budget.
- Increased funding in paving by $10 million annually to a total of $30 million.
- Increased funding for sidewalk repair by $1.25 million to a new total of $3.25 million
- Reduced the number of positions created within the Mayor’s Budget Proposal
- Increased investments in Libraries through an additional $200,000 for new books and e-books as well as additional hours for some branches.
- Increased investment in Parks through more than $5 million, including continued work in Charlie Vettiner Park, Des Pres Park, Cox Park, Long Run Park, Bill Lile Running Creek Park, Iroquois Amphitheatre, Jefferson Memorial Forest and many other parks throughout Louisville Metro.
- Reserving additional funding to protect against future possible recessionary impacts.
- Improved homelessness programs to include funding the successful ‘Another Way’ program.
- Support for expansions at both Waterfront Park (Phase IV) and the Louisville Zoo (Kentucky Trails Expansion)
- For District 19 specifically we have funded a traffic light at the intersection of Aiken and Bush Farm Road.
While much of this article has been focused on new projects and services, I want to take a moment to make one thing clear – these additions were made working within the revenues proposed within Mayor Fischer’s budget proposal. We found ways to improve this budget through finding efficiencies and reductions rather than through increased taxes or taking on additional debt.
The final FY23 budget is a significantly better budget than what we started with in late April. Although there are always things that I would like to see changed, after 45 hours of hearings and significant bipartisan cooperation, we have a budget that better reflects the ideas and values of the people of Louisville Metro. This budget will bring improved roads, improved infrastructure spending, and full funding for public safety including LMPD.
Please use the link below to find the approved Fiscal Year 2023 budget.