OKLAHOMA CITY -- The Oklahoma City Council approves the budget for the 2012 fiscal year.
City Council unanimously approved the $919,604,561 million city budget on Tuesday. The operating budget is $572,712,317 and the general fund budget is $364,010,801. The general fund budget is about six percent above last fiscal year.
The General Fund pays for most of the people, materials and supplies needed to keep the City running. The new budget restores 100 positions Citywide, which includes 51 positions in Police and Fire. Public safety makes up 64 percent of the fund.
"The 2012 budget eliminates our dependence on temporary revenue sources and restores many services reduced during the recession, but still leaves the City below 2009 staffing levels," City Manager Jim Couch said. "While growth in sales tax revenue is better than expected, it is still only about four percent above 2009 sales tax collections."
According to Budget Director Craig Freeman, the increase in sales tax revenue was spurred by repairs from last spring's storms, construction activity and growth in the local economy.
Sales tax depends on spending and is the City's largest single source of revenue. When people spend more, City sales collections grow. Oklahoma City receives 3.875 percent from each taxable sale in the City.
The budget takes effect July 1.