MAYOR SUNDQUIST RELEASES 2024 EXECUTIVE BUDGET; NO TAX INCREASE AND NO FUND BALANCE USED

Today, Jamestown Mayor Eddie Sundquist presented his FY2024 Executive Budget.

In a statement on the budget, Jamestown Mayor Eddie Sundquist said, “I am proud to deliver another fiscally responsible budget, that control costs and enhances investments across Jamestown to improve safety, property values, and sustainability. This budget focuses on investing for the future of Jamestown. Record funding for Police, Fire, infrastructure, housing programs, and more will ensure Jamestown continues to move in the right direction, all while responsibly saving for our future generations.”

Highlights of the 2024 Budget Include:

For the 4^th consecutive year, no tax rate increase.
No general fund balance is used to “balance” this year’s budget.
One-half million dollars set aside for strategic demolitions.
200 thousand dollars in sidewalk repair funds which will double the amount of sidewalk repairs across the City.
New storm sewer funding to reduce flooding and insurance costs.
Unprecedented support for Police and Fire, including funding 4 new Police vehicles in the budget, as well as enhanced capital funding for Fire.
Investments into Parks and public spaces, ahead of a record 2024 for park openings, including new splash pads at Allen and Jackson-Taylor Parks, a revamped Willard Street Park, renovation of Roseland Park, which will include Jamestown’s first pickleball courts. This will include new parks workers to take on the increased number of parks assets the City has added over the past half decade.

Under Mayor Sundquist’s administration:

The assessed values of homes have risen over 34%.
The tax rate has remained the same, while the tax levy has only increased 2.5%.
Through 2023, City appropriations have risen by an average of only 2.12% each year, despite inflation rising by an average of 4.5% each year from the beginning of 2020 through August of 2023.
Percentage of property taxes for total City revenues decreased from 43.7% to 39.8%.
The General Fund Balance (Rainy Day Fund) has increased over 60% from when Mayor Sundquist took office at the end of 2019 ($7.58 million).
Reached 60 day of expenses, the industry standard for unrestricted fund balance for first time in decades.
Record amount of Capital Projects, Neighborhood Programs, and Business Investments have been made through City ARPA Programs
- Over $8.9 million of Federal Rescue Plan funds have been invested in City Capital Projects to date.
- Over $7 million of Rescue funds have been allocated to Neighborhood Programs & Projects, including $1.8 million to Senior Housing Program.
- The creation of over 400 jobs through small business investments in local Jamestown companies
Through Rescue Plan Funds, we enhanced City services and expanded capacity. This includes:
- 4 New Firefighters
- 3 New Police Officers (focused on Gun Violence and Quality of Life)
- Deputy Comptroller
$26.4 million of Rescue Plan funds have been allocated to date