General Fund Fiscal Year 2024 Budget

The General Fund has a Fiscal Year 2024 Budget of $182,623,700 in expenditures and $183,402,063 in revenues before transfers.

Click here for a Citizen's Guide to the Budget Process. Learn how the Budget is created and view a timeline of events.

Click here to view the FY 2024 Budget Book and here to read the FY 2024 Budget Ordinance.

Click here for a glossary of terms used in this page and the FY 2024 Budget Book.

https://www.wilmingtonde.gov/home/showpublisheddocument/11578/638200160594230000

FY 2024 Budget Highlights

The FY 2024 General Fund operating budget expenditures total $182,623,700 – up $5,758,395 or 3.3% from FY 2023. The budget was balanced with no increase to the Property Tax rate.

The budget contains just over $2.0 million to cover projected salary increases for union labor contracts and for a 2.5% cost-of-living-adjustment (COLA) salary increase for non-union employees. In addition, mandatory anniversary salary step increases for eligible employees added just over $416,000 to the budget.

Staffing increased by a net total of 3.42 full-time equivalents (FTE). There were 45 personnel actions, including changes in grades and shifts to split-funded positions, that resulted in a total net increase of $272,992.

Consultants increased a net $724,280, with the vast majority of the increase attributable to the departments of Land Use, Police, and Fire. Land Use added $200,000 for Phase III of the federally required ADA self-assessment regarding accessibility for disabled persons at all City public spaces, sidewalks, and buildings. In addition, Land Use requested $150,000 to perform a comprehensive zoning code review and update, something that has not been done for 55 years. Finally, Police and Fire added a combined $235,000 to cover the fees of specialized consultants required to administer their biennial officer promotional processes.

Miscellaneous Projects increased by $704,204. In the Mayor’s Office, $85,000 of additional funding will be used to expand community programming and cultural activities. The Mayor’s Office also added $50,000 to help support the Beautification Commission in its mission to enhance the attractiveness of the City's public spaces. City Council added $300,000 to create a pool of funding to be allocated among the council members for distribution to various community organizations in need.

Click here for more FY 2024 Budget Highlights.

Breakdown of FY 2024 Budgeted Expenditures by Type

Breakdown of FY 2024 Budgeted Expenditures by Department

General Fund Staffing Levels Over Past 5 Years*

*Note: City staffing levels are measured in units of full-time equivalents (FTE). Many positions in the City are split-funded, which may result in a fractional FTE. For example, a position could be funded 60% from the General Fund and 40% from the Water/Sewer Fund, resulting in a 0.60 FTE in the General Fund.

Breakdown of FY 2024 Budgeted Revenues by Type

Overview of Budgeted Revenues

Total General Fund revenue before transfers is budgeted to be $183,402,063, a net decrease of nearly $3.0 million, or 1.6%, below the FY 2023 budget. Exclusive of the $12.0 million in one-time American Rescue Plan (ARPA) revenues included in FY 2023, total FY 2024 revenue would be up $9.0 million or 5.2%. No additional ARPA revenue replacement or use of the Tax Stabilization Reserve is budgeted for FY 2024.

Wage & Net Profits Taxes, the General Fund's largest source of revenue, are expected to grow by $2.7 million to a new total of nearly $74.9 million. While wage tax refunds associated with the continuing trend toward work-from-home are projected to lead to a loss of about $3.9 million, these losses are expected to be more than offset by increasing wages and improved collection efforts. In addition, Net Profits revenue is expected to grow by $724,000.

Wage Taxes are derived from the 1.25% tax the City applies to the gross earned income of city residents, as well as the gross earned income of non-city residents working within the city limits. Net Profits revenue is derived from a 1.25% tax on the net profits of business partnerships, professional associations, and limited liability corporations. These rates are controlled by the Delaware General Assembly and cannot be adjusted by the City.

Property Taxes, the General Fund's second-largest source of revenue, are projected to total $46.5 million, an increase of about $570,000, or 1.2%, relative to the FY 2023 budget. Projected base billings for FY 2023 are $45.8 million per New Castle County assessments. This is $489,000 more than FY 23, driven by a reduction in tax-exempt properties. Beyond this, the budget assumes a reduction of $250,000 in projected reassessment appeals. However, this is offset by a combined $319,000 in additional revenue due to expiring tax incentives and projected property improvements.

The property tax is the City of Wilmington’s second-largest revenue source, and the single largest revenue source with a tax rate directly controlled by the Mayor and City Council. The total assessed value of all property in the City is $3.54 billion, with a taxable assessed value of $2.17 billion after exempted properties are excluded. All assessments are adjusted to, and reported in, 1983 dollar values. For FY 2024, the tax rate is $2.115 per one-hundred dollars of assessed value.