Mayor Stoney's $3 billion Richmond budget proposal: What's in, what's out?

RICHMOND, Va. -- Amid a rebound in tax revenues as it adjusts from the pandemic, the City of Richmond is weighing a proposed fiscal year budget that would ramp up spending on operations overall, while emphasizing funding for schools, employee pay raises, and increasing the city’s stock of low-income housing.

Mayor Levar Stoney presented the $3 billion proposal for fiscal year 2024 to the City Council at a special meeting Monday. The plan would hold the line on current tax rates while increasing the general fund budget to nearly $949 million, a 13 percent jump from the current fiscal year budget. Click here to continue reading on Richmond BizSense.