Title
Public Hearing on the Proposed Fiscal Year 2027 Operating Budget and Fiscal Years 2027-2031 Capital Investment Plan
Action
Action:
Conduct a public hearing on the City Manager's Proposed Fiscal Year 2027 Operating Budget and Fiscal Years 2027-2031 Capital Investment Plan.
Body
Committee Chair:
Malcolm Graham, Budget, Governance, and Intergovernmental Committee
Staff Resource(s):
Marcus Jones, City Manager
Marie Harris, Strategy and Budget
Matthew Hastedt, Finance
Explanation
* On May 4, 2026, the City Manager presented the Proposed Fiscal Year (FY) 2027 Operating Budget and FY 2027-2031 Capital Investment Plan. The proposed budget represents the city's proposed operating and capital budgets for the fiscal year which begins July 1, 2026.
* State law requires the city hold a public hearing following the presentation of the Manager's Proposed Budget and prior to the City Council adoption of the budget, currently scheduled for June 8, 2026.
* Charlotte's Proposed FY 2027 Budget was developed to lead the City of Charlotte toward addressing the most foundational and pressing needs of the city.
Proposed FY 2027 Operating and Capital Budgets Summary
* The City Manager's Proposed FY 2027 Operating Budget and FY 2027-2031 Capital Investment Plan were developed consistent with the City Council's strategic priorities. These priorities served as the foundational elements against which all FY 2027 budget decisions were measured.
* The proposed budget includes a property tax rate of 29.30? per $100 of assessed valuation, a 1.89? increase from FY 2026.
* The proposed budget for the city consists of three major components supported by general tax revenues:
* A General Fund budget of $1.04 billion for FY 2027, representing a 10.5 percent increase from FY 2026, to support initiatives that will continue to deliver exceptional government services to the community;
* A $261.7 million Municipal Debt Service Fund; and
* A $520.1 million General Capital Investm...
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