The Santa Fe City Finance Committee kicked off its annual budget hearings on Tuesday.
It began with an overview of the city’s current financial situation and what can be expected over the next year.
Finance Director Mary McCoy told city lawmakers that Santa Fe’s budgetis in a strong position as the COVID pandemic continues to ease.
She says it offers the Governing Board a once in a generation opportunity to transform the city of Santa Fe.
“We are very proud of the (fiscal year) budget that we’ve put together totaling $382 million,”she said. “Primarily because it builds on the priorities and the collaboration the Mayor and the Council has done to set a fiscally sustainable course for the city of Santa Fe.”
Some of the proposed budget highlights include an eight-percent salary increase for all city employees, a $750,000 fund for mortgage assistance for first responders so they can both live and work in Santa Fe, and half a million dollars toward a “Green Bank” to help low and moderate income residents afford to solarize their homes.
The budget hearings will run into next week. The Governing Body will vote on the spending plan Wednesday, April 27th.