Mayor Martin J. Walsh signed the City’s $3.15 billion Fiscal Year 2018 budget, which through strong fiscal management and strategic savings initiatives allows for further investment in quality City services in neighborhoods across Boston, and builds on the success of existing City programs. During a signing ceremony hosted outside of a building marked by graffiti, Mayor Walsh joined members of his Cabinet and City staff, neighbors, community partners and local elected officials for the signing ceremony, that concluded with the graffiti busters team removing the graffiti from the wall.
“This budget invests in our broadest vision of the future and in the details that support quality of life everyday,” said Mayor Walsh. “Behind each line in the budget is a person and a neighborhood benefiting from these city services. It reflects the voices and the values of the people of Boston, and it is one that we can be proud of as a City.”
The $3.15 billion budget proposal represents an increase of $148.5 million, or 5 percent, over the FY17 budget, and follows 27 City Council hearings that identified opportunities for further targeted investments, while still balancing sustainability and fiscal responsibility. Investments in this budget are made possible due to savings initiatives launched under this Administration such as reduced overtime hours, health care cost containment reforms, and lower debt service costs achieved as a result of the City’s triple A bond rating.
“The FY18 budget expands investment across City departments, improving fire safety, providing expanded learning opportunities to the City’s children, and providing the resources to make our parks and streets safer and cleaner,” said David Sweeney, Chief Financial Officer for the City of Boston. “Because of Boston’s robust economic development climate, the Mayor is able to build new firehouses, invest one billion dollars in school buildings, expand Vision Zero, and incorporate more Art into our public assets.”