For the Covington Farmers Market, a permanent structure The Licking River levee is being worked on to prevent slippage.
Finding new employees for the police and fire agencies. Making progress in finding the city’s operations their first standalone home in 120 years. defending communities from deteriorating structures and blight. measures for affordable housing.
The $167.6 million budget for the fiscal year that started on July 1 is more robust than usual thanks to an influx of federal American Rescue Plan Act (ARPA) funds.
It includes investments not only in necessities like public safety, roads, and job creation but also in facilities and significant projects that will strengthen the city and create a better future for its citizens.
According to City Manager Ken Smith, a city’s budget serves as a template for its goals and objectives.
“Our new budget not only focuses on enhancements to our core services but also includes some genuinely transformational projects,” the budget statement reads.
Public safety receives about 56% of the General Fund’s funding.
The budget was created following months of deliberation by City officials, which included a string of Saturday sessions when the Commission heard staff recommendations and discussed priorities.
The decision by City Council members on how to spend $35.9 million in ARPA money, whose inclusion effectively divided the 2022–23 budget into three budgets, increased the intensity and excitement of the process this year.
The General Fund, which has a total budget of $69,213,228, leverages well-known tax and income sources and distributes funds mostly for personnel and operations. Public safety receives about 56% of the General Fund (fire and police).
The good news, according to interim-Finance Director Jerome Heist, is that revenue estimates show increase.
This contrasts with the General Fund section of the budget, which is effectively a status quo expenditure plan.
The largest donor to the General Fund, payroll tax revenue, in particular, has had a considerable increase.
The next greatest contributors, insurance licensing fees, property taxes, and net profits taxes, have either maintained their previous levels of contribution or experienced modest growth.
Separately, the “All Other Funds” budget, which totals $92,581,994, makes investments in the future of the City using more than two dozen special funds.
These funds get funding from a number of sources, including grants from the federal government and states, bond proceeds, trusts, yearly federal allotments, and other designated sources.
Additionally, a wide range of expenses are covered by the funds, including playground restorations, Devou Park enhancements, vehicles, and equipment, as well as housing aid (down payment grants, emergency house repairs, and housing choice vouchers).
This year, a little over $30 million in ARPA funding are allocated in the budget’s All Other Funds section.
Although it is included in the budget for 2022–2023, the Commission must separately approve any requests to use it.
Regardless of the source of money, the budget also funds the following items in addition to operations and basic services:
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• The design of horizontal infrastructure will cost more than $7 million as part of the ongoing preparation of 23 acres of downtown for private development (streets, parking, utilities, etc.). $100,000 is allocated in a separate line item to start the site’s marketing.
Farmers’ Market in Covington:
• $650,000 to create and identify a location for a Farmers Market structure.
a. City Hall
• $710,000 to create a new City Hall, the first standalone building for city activities in 120 years.
Infrastructure:
• $937,000 for the Licking River levee restoration near Oakland Avenue.
• $1.7 million for repairs and street resurfacing.
• $100,000 for Eastside pedestrian access improvements.
• $325,000 for the Russell Street Public Works complex’s completion.
Neighbourhoods:
• $1 million for increased efforts to provide affordable housing, including a $10,000 increase in the amount of help provided to first-time homebuyers.
• $455,000 to increase the availability of Covington Connect’s free Wi-Fi. Over 1 million sessions have been completed on the website by approximately 34,500 different users.
• $125,000 for the establishment of a homeowner repair program in eligible census tracts.
• $750,000 to fix up abandoned and dilapidated properties.
• A stronger emphasis on initiatives to protect residents’ health and safety from annoyances and property problems as well as to preserve property values.
This sum includes funds for hiring an additional code inspector and contracting out some rental inspections.
• New trash cans for the streets and a new Solid Waste & Recycling employee.
• $200,000 for projects created by local residents.
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Public Protection-
• A brand-new cadet program for firefighters and a cadet program that is enlarged for police officers that would aid in the recruitment of City public safety employees.
• Three fire department staff vehicles.
• Five police cruisers, two Park Rangers cars, a new crime lab van, and a motorcycle for the traffic squad.
• Fire Company 1’s space was renovated and received new fire apparatus.
Development of the economy-
$125,000 for a program aimed at fostering the restoration trades’ workforce.Loans for
small businesses of $150,000.
$400 000 for a new initiative to aid struggling companies.
