City of Broken Arrow shares details about proposed Fiscal Year 2025 Municipal Budget and Financial Plan

BROKEN ARROW, Okla. — The City of Broken Arrow has shared details about the proposed Fiscal Year 2025 Municipal Budget and Financial Plan .

City Manager Michael Spurgeon said the City’s fiscal health is "very stable.”

"I couldn't be more excited about presenting this year's budget," Spurgeon said. "We try to be as transparent as possible about where the money comes from and how we spend the money for the upcoming fiscal year."

The budget totals $490,455,349, with:

• $175,658,171 for operational costs.

• $275,204,378 for capital outlay.

• $39,592,800 for debt service.

The City Council and City leadership met yesterday for the annual Budget Workshop, which was the first chance the City Council and the public had to see the budget.

Video of the workshop is below.

The budget is a blueprint for how the City will provide services for the upcoming fiscal year, July 1, 2024, through June 30, 2025.

"This budget is full of projects that have been approved by the voters in the General Obligation Bond Package or what we're proposing to borrow from the Oklahoma Water Resources Board to continue to maintain and upgrade our water and sewer systems," Spurgeon said.

A final version of the budget will be submitted to the City Council on June 3 and will be discussed in a public hearing during the City Council's regular meeting.

"I want to assure voters that we've estimated all our revenues, and we have a solid fund balance to ensure that should there be something unforeseen that can happen, we can weather any downturn," Spurgeon said.

Adoption of the budget is expected to take place June 17. Under state law, the budget must be approved and in place by July 1.

"We will end FY24 strong with our estimated net income for FY24 at just over $4 million in the General Fund," Spurgeon said. "Revenues through April 2024 are coming in above what was originally projected," Spurgeon said.

To see the full budget plan, click here .