City and County of Denver, CO

11/12/2024 | Press release | Distributed by Public on 11/12/2024 17:13

City Council Unanimously Approves Mayor Johnston’s 2025 Budget

City Council Unanimously Approves Mayor Johnston's 2025 Budget

Published on November 12, 2024

The 2025 Denver budget is the first in three years to be approved by City Council with no amendments

DENVER, CO - Denver's 2025 budget was unanimously approved by the Denver City Council this afternoon. This is the first time Denver City Council has approved a budget without amendments since 2021. In the face of moderating economic growth nationwide, the 2025 budget adapts to these changes with a focus on slowing the growth of government while maintaining world-class public services.

"The city budget is a reflection of our values and our priorities, and even in a slower economic environment, we created a budget that will build a vibrant, affordable, and safe Denver," said Mayor Mike Johnston. "I am incredibly grateful to Denver City Council's continued partnership to build the 2025 budget and invest back into our communities."

"We are proud to support a 2025 budget that maintains vital services and expands initiatives that enhance public safety, housing security, and small business resilience," said City Council President Amanda P. Sandoval. "This balanced approach addresses immediate needs while investing in Denver's long-term success. Together, we're ensuring that every resident benefits from a city that is more affordable, safe, and vibrant."

Denver's 2025 budget builds a more vibrant, more affordable, and safer Denver for all. It has investments across every neighborhood, bolsters economic opportunity citywide, expands public safety, supports the city's commitment to a cleaner climate, provides more opportunity for Denver youth, and activates and enlivens downtown.

Highlights of the 2025 budget include:

  • $60 million toward creating and preserving nearly 1,400 affordable homes, with additional investments in rapid rehousing and project-based vouchers to create housing for 3,000 households
  • $58 million toward economic development, including workforce development and support for local entrepreneurs, minority-owned businesses, and small businesses
  • $23 million for temporary rent and utility assistance (TRUA) to prevent households who are most at risk of eviction from entering homelessness, and $2 million to provide residents with legal defense services in the event of an eviction
  • $15 million toward programs like STAR (Support Team Assisted Response), co-responders, the Behavioral Health Solutions Center, and Roads to Recovery, which provide meaningful interventions and alternative responses to people in crisis; and $12 million toward recruiting and training new first responders and officers
  • $13 million toward electric city fleet vehicles and new EV charging infrastructure for both city fleet and public locations
  • $10 million toward programs for Denver kids, including affordable childcare, afterschool programming, and youth violence prevention
  • And reduced spending on All in Mile High and newcomer programs

With an eye toward prudent, cost-saving measures, the city budget will grow just 0.6% in 2025, the slowest rate of growth aside from the pandemic in 14 years, and will not add net new job positions in the General Fund for the first time in over a decade.

Denver's 2025 General Fund budget provides $1.76 billion in city services. It is a balanced budget that represents Denver's values while aligning spending with revenues, with $220 million or 12.5% held in reserves for any unforeseen economic challenges.

The complete budget is available at denvergov.org/budget.

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About the Denver Department of Finance

Committed to being the best financially managed city and county in the nation, the Department of Finance (DOF) unifies the financial and accounting functions of the City and County of Denver and provides residents easy access to key financial data through Transparent Denver. DOF is divided into the Office of the CFO and seven divisions, including the Assessor's Office, Controller's Office, Budget and Management Office, Capital Planning and Real Estate, Cash and Capital Funding, Risk Management and Worker's Compensation, and Treasury. For more information, visit Denvergov.org/finance.

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