After revealing details of his 2024 city budget in August, and conducting a public hearing in September, the mayor’s $164 million budget proposal for 2024 received final approval from the Fishers City Council Monday night.

“The adoption of the 2024 budget reflects our unwavering commitment to the people of Fishers to continue building a smart, vibrant, and entrepreneurial community all while holding ourselves accountable to fiscal responsibility,” said Mayor Scott Fadness in a written statement. “By prioritizing historic investments in neighborhood vibrancy, we’re directly enhancing the lives of residents. This budget isn’t just a financial plan; it’s an investment in the pulse of the city – our community, neighborhoods, and schools.”

Councilor Jocelyn Vare raised concerns that the city’s debt load has nearly doubled in 2 years, and asked how much property owners would be assessed when Barrett Law road improvements are financed.  Controller Lisa Bradford responded that the city has received bids on the road construction work, but will not know the amounts businesses will be paying along those roads until the financing is complete, which should happen in the coming months.

Councilman Pete Peterson said market rates determine how such debts are financed, and Fishers is in “super” financial condition with investment grade debt.

Councilor Selina Stoller reminded council members Vare voted for the events center, but voted against the financing plan to construct the facility.  When voting against the financing plan previously, Vare said she wanted a sunset provision phasing out the food & beverage tax once the events center bonds are paid.  The financing plan did  not include a sunset provision.

The Fishers city budget for 2024 includes a small property tax rate decrease.  For more on what is contained in this budget, check out this story I posted August 21st.