"Today, I'm presenting you a balanced, right-sized budget," the mayor began.
According to Gorton, Lexington is doing relatively well compared to state and national budget data and the proposed $546 million General Fund budget keeps city services up and running without any tax increases. But it does so through what she described as "tight fiscal management" in the face of slowing revenue growth and increasing costs.
Take utilities, for example. Her office estimates the city will pay over $2 million in higher bills this year alone. She notes the city is not immune to the same pressures facing households and businesses.
On top of rising fuel costs driven by the war in Iran, the mayor said, "We are experiencing all the same kind of things that you hear — tariffs, a slowdown on building. We're in the middle of finishing our new senior center, but we have other projects that will experience those costs of materials just like the homebuilders. Their costs have skyrocketed."
In response, the new budget limits borrowing and adds just three new positions, the lowest number since 2021. One will be a development liaison, tasked with easing the development process amid high demand for housing.
The budget does, however, provide funds to open and fully staff that Shillito Park senior and therapeutic recreation center and bolster ice and snow operations, as it earmarks $78 million for investment in capital projects and $13 million for paving.
The spending plan now heads to the Urban County Council, which will begin combing through the document and making suggested changes.