Carmel adopts 2021 budget

$10.1 million budget is 2.1 percent lower than 2020

Carmel Mayor Jim Brainard presented a balanced 2021 budget to the Carmel City Council during its regular meeting on Monday. A public hearing was held prior to the Council adopting the budget.

Brainard

The General Fund Budget for 2021 is $110,115,430, which is 2.1 percent lower than this year’s budget. The City uses financial information from its six-year fiscal plan, updated constantly for the past 24 years, to project future revenues and expenses. It also allows the department directors to prioritize expenditures while being aware of the long-term impact of their decisions. The City maintains $11.3 million in the Rainy Day Fund, which is the second-highest fund balance of its kind in the State of Indiana.

“It has always been our goal to provide Carmel residents and businesses with the highest level of service at the lowest possible cost and this budget will once again accomplish both those goals,” Mayor Jim Brainard said. “This is a key part of our economic development strategy of keeping the cost of living down and the quality of life up, helping us attract more corporate headquarters, jobs and a highly qualified workforce. We are in a very competitive battle with cities across the country for companies that are increasingly seeking new locations away from other states and communities where both taxes and the cost of living, not to mention commute times, are much higher than what we offer in Carmel.”

Here are some highlights of the 2021 budget.

• No Cost of Living Adjustment for employees
• $4.5 million for Street Department paving of local streets
• $90,000 for Fire Department to hire a new full-time crisis management coordinator
• Six additional Carmel Police officers (including four school resource officers)