Mayor Smiley Signs FY2025 Budget

Friday, June 28,2024

FY25 budget strengthens the city's financial position, improves city servicesand includes historic investment in education

Mayor Brett P. Smiley today joined Council President Rachel Miller, members of the Providence City Council, Chief of Fire Derek Silva, Police Commander Tim O'Hara, Chief Financial Officer Lawrence J. Mancini, Department of Public Works Director Patricia Coyne-Fague, Finance Director Sara Silveria and Deputy Finance Director Krystle Lindberg to sign the FY2025 budget which will go into effect July 1, 2024. The final budget outlines strategic investments to build a more sustainable Providence without increasing taxes or relying on one-time federal funding.

"Through this budget, we are making responsible, strategic investments in Providence's future and laying the groundwork for a safer, more resilient and financially stable Providence," said Mayor Brett Smiley. "I am proud to have collaborated with the City Council on a balanced budget that utilizes city funds to more effectively serve our community, improve our local quality-of-life and invest in the services that matter most to our neighbors."

Building on Providence's continued commitment to support students and elevate educational outcomes, this budget allocates the largest investment in the Providence Public School District in recent history, increasing the City's contribution by $5.5 million, bringing the total contribution to $135.5 million. These funds will support designated-school-based investments and ensure Providence teachers and students have the resources they need to succeed.

"The fiscal year 2025 budget passed by City Council prioritizes the well-being of Providence residents and invests in the future of our city," said Council President Rachel Miller (Ward 13). "I'm especially proud that we are able to support students and teachers with a $5.5 million increase for public schools-a historic increase to Providence Public Schools and an investment in our young people."

Since taking office last year, Mayor Smiley has prioritized proactive initiatives and investments to build a more resilient city, mitigate the impacts of climate change and better protect Providence from the surge of extreme weather. Earlier this year, he signed groundbreaking legislation committing all city buildings to achieve carbon neutrality by 2040, which positions Providence as a leader in urban sustainability. Building on this initiative, this budget includes critical investments aimed at enhancing the city's resilience including an allocation of nearly $136,000 for a dedicated sewer team to help mitigate flooding risks and improve the city's ability to withstand natural disasters.

Additionally, this budget provides funding for both police and fire academies, underscoring Mayor Smiley's commitment to elevate public safety in every neighborhood. This critical investment will help to ensure the City's public safety teams are properly staffed to meet the needs of the evolving needs of the communities they serve.

With strategic investments in education, public safety, climate resilience, and infrastructure, Providence is poised to thrive as a more vibrant, sustainable, and prosperous community for all its community members.

The final FY2025 budget will be posted online at openbudget.providenceri.gov.

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