Minneapolis City Council approves 2008 City budget
October 1st, 2007 Posted in Community | No Comments »Despite the loss of $35 million in state aid and growing pension obligations, the City is continuing to reduce its debt burden, reducing its debt by $86.5 million since 2002, allowing for additional funds to be spent on basic services.
Public safety funds in 2008 will pay for additional 911 operators, precinct-based prosecutors, micro grants to prevent gang-related graffiti, a curfew and truancy resource center, and money to implement the recommendations of the City’s Youth Violence Prevention Committee.
The 2008 budget also provides money to strengthen and improve Minneapolis’ economy. Money will be made available for worker training programs, small business funding options, key commercial business districts, and programs that address the city’s foreclosure problem.
The budget also allocates close to $1.5 million for bridge repairs and rehab. This increase was planned before the I-35W Bridge collapse and will help keep the city’s infrastructure strong. Over the past five years, Minneapolis has invested more than $17.3 million into its bridge capital program.
Mayor R.T. Rybak proposed the 2008 City budget in September 2007 and the City Council held public hearings and discussions on the proposed budget during the fall.
The entire City of Minneapolis 2008 Budget will be posted on the City’s Web site in January 2008. When it is posted you can find it at http://www.ci.minneapolis.mn.us/finance/.