The City of Paducah Fiscal Year 2025 Budget Book is available to the public. The 123-page document includes a variety of information including a budget message from City Manager Daron Jordan. The Budget Book discusses City Commission priorities, projects, and budget challenges, budgets for each department with fiscal year 2024 accomplishments and fiscal year 2025 goals, a history and statistical section, and a glossary. The City’s fiscal year is from July 1 through June 30.
Mayor George Bray said, “I am excited to see the current fiscal year for our City unfold. With increased funding for housing and street rehabilitation in addition to our support for various nonprofits and agencies, we are reinvesting tax dollars where they are needed the most. I want to thank those citizens who take the time to provide feedback on improvements as we always take those to heart. Please take the time to review the budget on the City’s website. Transparency and fiscal responsibility have been the cornerstone of our financial success. The budget process begins each January and takes months to complete, and I want to thank the City’s Leadership Team for their work to incorporate into the budget the priorities outlined by the Paducah Board of Commissioners.”
As stated in the budget message, City Manager Daron Jordan said, “The foundation of this budget is maintaining a fiscal sustainability mindset and continuing to provide great value to our residents through forward thinking and conservative planning. It is through that lens that we are also able to focus on the City Commission’s priorities as adopted this past winter.”
A few of the budget highlights are as follows.
- The budget provides funding to support City Commission Priorities including approximately $1 million for housing initiatives and approximately $1.2 million for stormwater projects.
- The City is further increasing its funding for street rehabilitation with $2 million budgeted for this fiscal year in addition to the amount received from the state fuel tax. This is a significant increase from the budgeted amount in Fiscal Year 2024 which was $1.5 million and the $1.2 million budgeted in Fiscal Year 2023.
- A total of $812,000 is being provided through contracts with various agencies. This amount includes a pledge of $500,000 to support the Columbia Theatre’s façade stabilization project.
- As a financial buffer, the City sets aside of minimum of ten percent in reserves in several funds including the General Fund, Investment Fund, and Solid Waste Fund.
- The FY2025 budget is slightly more than $120.8 million dollars when all funding accounts and transfers are considered. Of that amount, the City’s main operating fund, the General Fund, is $57.6 million, and the Investment Fund is $8.3 million.
Learn about City Commission Priorities
