City of Madera:

August 29, 2023

City adopts FY 23/24 budget, anticipates surplus amid economic challenges

At a special meeting of the Madera City Council last week, the Council adopted a balanced budget for fiscal year 23/24, demonstrating a net surplus for the General Fund amid lingering COVID-19 uncertainties. Highlighting responsible financial management, the budget allocates resources for essential services, while also addressing health insurance premiums and one-time payments. The budget reflects the City’s commitment to its core mission, City Council priorities, and community vision, maintaining an upward financial trajectory despite the pandemic’s challenges. Sales tax, property tax, and service charges are projected to exceed the previous year’s figures, signaling resilience in revenue streams. Ongoing assessment and flexibility remain integral as the City navigates the evolving fiscal landscape. Click here to review the FY 23-24 City of Madera Proposed Budget.