Richmond passes budget for 2019/2020

Richmond passes budget for 2019/2020
Richmond City Council (Source: NBC12)

RICHMOND, VA (WWBT) - Richmond City Council passed a budget for the 2019/2020 fiscal year on Monday night.

The plan includes $320.7 million for Richmond Public Schools. Earlier this year, Council passed a meals tax increase to support the additional funding for RPS.

Council says they are "keeping the Richmond Real Estate Tax at its lowest rate in decades, at $1.20 per $100 of assessed value."

They also want to "provided for increased financial transparency, integrity, and accountability of the Richmond Government Budget process."

The Richmond Government Budget is based on a Fiscal Year that runs July 1 to June 30 annually and the City operates on a two-year fiscal plan.

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