Carmel adopts budget of $89 million for services
The city of Carmel has passed an $89 million budget for 2009. At its Oct. 6 meeting, the Carmel Common Council adopted the budget, which is based on a
property tax rate that’s lower than the rate Carmel Mayor Jim Brainard, a Republican, inherited when he took office in 1996.
City services and municipal improvements are the most expensive items in the budget. Carmel
plans to spend $19.7 million on its fire department, $15.6 million on its police department, and $13.4 million on its board of works. It has also set aside more than $13 million for road projects and related bond repayment.
Brainard first presented the budget in September, along with updates to the city’s multiyear fiscal plan. He noted Carmel’s relatively high debt ratings from Standard & Poor’s, which has the city at A+; and Moody’s, which has rated Carmel at Aa3.
“This plan will require that city leaders keep spending under control,” Brainard said. “We are realizing some benefits from the economies of scale of providing city services for a larger number of people.”