MIAMI (CBSMiami) – Miami’s Mayor and City Manager announced the completion of next fiscal year’s proposed budget.

The $929 million dollar operating budget is based on a reduction of property taxes, and the addition of city jobs and services. It also adds $5 million to reserves.

The budget also plans for nearly $6 million dollars in capital investments including improvements to park facilities, replacing city vehicles, and I.T. improvements across the city.

However the numbers are not final. The City is still negotiating with its four labor unions, including the police union which says the budget proposal does not do enough to compensate officers after five years of salary and benefit cuts.

Miami Mayor Tomas Regalado says the budget allows for new police vehicles, and provides bonuses, though he admits the negotiation process is not complete.

“We are apart on what they want and what we think is prudent and we’re just not going to compromise the future of the City,” he said during a news conference Wednesday.

So what’s next? The City commission will set the property tax millage rate during its regularly scheduled commission meeting July 24th. The public is welcome to attend.

After that, the City will set the dates for two September budget hearings.

To read more on the proposed budget click here:



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