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Posted on: November 27, 2023

City Council Passes 2024 Budget

News Release

FOR IMMEDIATE RELEASE: November 27, 2023

Spokane Valley, WA – On Nov. 21, 2023, the Spokane Valley City Council passed the city's 2024 budget with a vote of 6-1. The budget, which will be in effect from Jan. 1 to Dec. 31, 2024, is $106.4 million, with the largest expenses allocated to public safety, capital expenditures, street maintenance and general city programming.

The 2024 budget continues to advance the city's priorities, including public safety, pavement preservation, transportation and infrastructure, and economic development. 

The budget includes a total of 116.25 full-time equivalent employees (FTE), which is an increase of four FTEs from the amended 2023 budget. The budgeted recurring revenues are expected to exceed recurring expenditures by roughly $4.3 million or almost 7%. Additionally, the City anticipates receiving $9.5 million in state and federal grant revenue, which will cover nearly half of the capital improvement project costs. The projected ending fund balance for the general fund at the end of 2024 is expected to be $41.4 million, equivalent to 71.46% of recurring expenses. The City aims to maintain a minimum of 50% of recurring expenses in the fund balance.  

The City encourages community input in preparing the annual city budget. This year, Spokane Valley hosted three public hearings on Sept. 12, Oct. 10 and Nov. 21, 2023, and staff presented information for Council discussion at a total of eight presentations. 

The final adopted budget book will be available in January at SpokaneValleyWA.gov/Budget


MEDIA CONTACT 
Jill Smith, Communications Manager
jsmith@SpokaneValleyWA.gov
d: 509-720-5411, c: 509-953-6695

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