In December 2024, Mayor Bruce Harrell signed the 2025 Adopted and 2026 Endorsed budgets into law. The 2025 Adopted Budget included approximately $8.5 billion in appropriations overall, including $1.9 billion for the General Fund and $520 million in JumpStart Payroll Expense Tax.
The 2025 Adopted and 2026 Endorsed budgets favor maintaining core municipal functions, makes reductions to spending including targeted layoffs of City employees needed to achieve a balanced budget, and proposes structural changes to the payroll expense tax.
In the 2024 Adopted Budget, the City's General Fund estimated a looming 2025 deficit of $251 million or about 15 percent. The proposed budget reflects the hard choices made by the Mayor to meet the City's legal obligation to adopt a balanced budget.