Fishers Mayor Scott Fadness was crunching numbers, finding cuts and trimming his 2021 spending plan when state officials informed his staff late last week that he would have $7 million more in income than expected. The mayor and his staff went to work and revised the budget numbers to provide increased staff and more compensation for city employees.
Fadness
The original budget called for spending of $115.1 million. After the new numbers were factored in, the mayor is now proposing to the city council a 2021 budget of $117.5 million. That will still leave the city with cash reserves in 2021 of $35.7 million.
The increased income tax money will go to:
- An increase for nonprofits from the city from $100,000 to $150,000.
- A 3 percent raise in pay for city employees.
- A $500 one-time bonus for city workers (elected officials not included) to be paid in 2021.
- One additional firefighter.
- One addition police officer.
- One additional Civilian Intelligence Analyst for the Police Department.
- Two additional full-time city inspectors.
- Full funding for design and construction of a new fire station on the growing northeast side of the city.
Fadness also said the Fishers city tax rate for 2020 is second-lowest among cities in Hamilton County. Cicero is the only municipality with a lower tax rate within the county.
Fadness touted a budget proposal for next year he describes as featuring a tax-neutral budget, public safety investments, $6 million dedicated to roads and an enhanced cash reserve if needed. The mayor also reminded council members that Fishers continues to be the only city in the state with a AAA debt rating from Standard & Poor’s.
Monday was the first reading for the 2021 budget. Council members are scheduled to take a final vote on the spending plan next month.