City Council and City of Newcastle Residents:

In 2018, the City of Newcastle will celebrate its 24th year of existence. This community has evolved over time, but it has never stopped being one of the region’s most desirable places to call home. Newcastle truly is among the best places to live in America, a notion reinforced by its inclusion on the prestigious 2017 Money Magazine ranking of the nation’s top locales. We can all be proud of this national recognition, while we continue to work together towards an even higher quality of life for people living here.

As the City heads into the 2018 budget adoption cycle, we do so after a 2017 that saw many community milestones and achievements. A commitment to future vitality is evident through the completion of a Downtown Strategic Plan. The largest development in Newcastle’s history, Newcastle Commons, started adding new residents and businesses. The brand new Risdon Middle School and Aegis Gardens retirement community opened their doors. The launch of a new City website and greatly expanded social media presence gave our residents a place to stay informed after the closure of the Newcastle News. Signs that speak of our rich history were installed at key spots across Newcastle.

Also during 2017, the City engaged in a determined, collaborative effort to develop next year’s budget. We now enter into the critical budget adoption process for 2018 with months of preparation guiding our work. More than any other year, this preliminary budget reflects the thoughtful and dedicated efforts of the City Council and staff.

It is my honor to present to you the preliminary 2018 Operating and Capital Budget for the City of Newcastle. The budget supports sound fiscal and operational policies, and builds upon a solid foundation of prior years’ budgets and financial strategies. The total 2018 Operating and Capital Budget is $12,177,485. With the addition of transfers, debt service, and other financing uses totaling $3,734,725, the total adopted budget becomes $15,912,210. This is a reduction of 11% or $1,911,070 over the 2017 budget.

The 2018 budget was developed using conservative revenue forecasts consistent with the City’s adopted financial policies and state law. This budget proposes using money from General Fund reserves to cover an approximately $350,000 shortfall, a strategy made possible thanks to previous efforts to build up the fund balance. 

Click here to read City Manager Rob Wyman's full introductory budget letter and view the 2018 Preliminary Operating and Capital Budget. 

Budget in Brief

© 2016 City of Newcastle | All Rights Reserved | Powered by CivicLive