The Oakland County Board of Commissioners on Thursday approved County Executive Dave Coulter’s balanced, transparent, and fiscally-responsible budget for fiscal years 2024-2026 in a unanimous vote.
“This bipartisan, unanimous budget is proof we can accomplish great things together on behalf of our residents,” Coulter said. “It provides quality services to our residents in an efficient, responsible and equitable manner. And it builds on the programs and services that will allow us to maintain our AAA bond rating that will be so important for our future plans.”
The budget makes significant investments in initiatives and services that help residents and businesses thrive in a welcoming county such as expanding economic development programs that help small businesses grow, sustainability initiatives, and public health clinics and outreach programs that keep residents healthy. County parks and public transportation are among the areas also receiving significant support to boost the quality of life for residents and enable them to get to jobs.
Another highlight of the budget includes a three percent general salary increase for employees with the goal of attracting and retaining a talented and diverse workforce.
Oakland County’s budget is structurally balanced with no use of the budget surplus for ongoing operations and maintains a fund balance level of well above 30 percent of the county’s general fund, both of which are key practices for maintaining the county’s AAA bond rating. The general fund budgets for fiscal years 2024-2026 are $539.8 million, $547.4 million, and $560.9 million, respectively. The total recommended budgets for all funds for fiscal years 2024-2026 are $1.080 billion, $1.088 billion, and $1.108 billion, respectively.
To view the balanced budget, go to www.oakgov.com/fiscal.
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