City Begins Budget Process for Fiscal Year 2025

The process of reviewing and approving Everett’s Fiscal Year ’25 budget has begun.

The first of the budget hearings on the Everett School Department’s portion of the budget was set for Tuesday, May 22. The city departments’ budget hearings are scheduled for May 29, June 3, and June 5. All budget hearings will be televised live by ECTV.

Following the hearings, Council President Robert Van Campen expects the Council to vote on the city’s approximately $281.9 million budget at its June 10 meeting.

“I’m looking forward to the process and hope that we can work collaboratively to address our priorities as a community while making sure that we continue to make Everett an affordable place in which to live and raise a family,” said Van Campen.

Chief Financial Officer Eric Demas spoke about the budget on behalf of Mayor Carlo DeMaria at the May 16 joint convention (meeting) of the City Council and School Committee. Supt. of Schools Bill Hart led a school department contingent in attendance at the meeting.

Demas began his presentation by introducing Vladimir Kan, the city’s new budget director.

“The goal tonight is just to provide a brief overview as there will be detailed budget discussions at future meetings,” said Demas.

Demas told the Council and School Committee that the city is in a strong financial position and was recognized for having “strong management conditions with good financial management policies and practices.”

“Standard and Poors has assigned a Double-A Plus stable rating to the city’s 2023 general obligation tax-exempt municipal bonds which we issued last July,” said Demas. “Double-A Plus is the second-to-highest rating that a city can obtain with its bond rating.”

Demas also announced proudly that the City of Everett received the Government Finance Officers Association’s Certificate of Annual Comprehensive Financial Reports, an award which is “the highest form of recognition in governmental accounting and financial reporting.”

“We’ve now received this award nine years in a row,” said Demas. “The focus of this award is to focus on excellence, transparency, and accountability.”

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