The City of Madison adopted its budget for FY2025 at its meeting on June 17.
Madison City Manager John Klimm and Finance Director Karen Stapp presented the FY2025 budget to Mayor Fred Perriman and council members on May 17. The council voted to adopt it precisely one month later.
The proposed budget was briefly discussed during either of the two public hearings held in the interim to allow the public to address it.
According to Klimm, the proposed overall budget number represents a reduction of approximately $275,000 compared to the FY2024 budget.
Last year, Madison reduced its general fund budget by a little more than $88,000. Still, that number will increase by almost $400,000 this time around as the city absorbs increases in expenses for several departments.
Madison’s Police Department spent $1,824,105 last year and is expected to pay $2,053,150 in FY 2025, an increase of more than 12%. According to budget documents, the MPD plans to hire new employees, increasing expenses by $174,000.
The budget for Madison’s Planning and Development wing will also increase because the city plans to add to staff, increasing salaries from $169,171 in FY 2023 to $318,00 in FY 2025.
The City of Madison adopted a millage rate of 5.424 citywide in FY 2024, which equates to $217 in property taxes for each $100,000 of property owned.
The millage rate for the special downtown district was set at 1.001, which translates to a tax obligation of $40 for each $100,000 property.
The city established a millage rate of 1.122 for its interstate corridor district, which obligated property owners to $45 for each $100,000 of property.
Madison’s fiscal year ends on June 30 and begins anew on July 1.
The City of Madison also extended its moratorium on accepting applications for rezoning industrial zoning classes until the end of July. City Attorney Jay Crowley said the extension was necessary to comply with public notice laws.