Budget

The Fiscal Year (FY) 2024 Operating Budget and Capital Improvements Program (CIP) was adopted by the Mayor and Council on May 15, 2023. The FY 2024 adopted budget will be posted on or before July 1, 2023.

Fiscal Year 2024 Proposed Budget

The FY 2024 proposed operating budget totals $156.4 million for the City’s 10 operating funds. This represents an overall increase of 5.1 percent from the FY 2023 budget. The FY 2024 budget uses resources wisely and focuses on a number of Mayor and Council priorities, including the continued commitment to capital investments, the ongoing implementation of adopted plans, and fiscal sustainability. The budget proposes no increases in real or personal property tax rates, implementation of the City’s new water and sewer utility rates, a modest increase of $24 per year for the refuse and recycling rate, and a $8 per equivalent residential unit (ERU) increase in the stormwater management fee.

Fiscal Year 2024 Proposed Budget (PDF)

Fiscal Year 2015 to Proposed 2024 Budget Detail (Excel)

Fiscal Year 2024 Budget Calendar

The Fiscal Year 2024 budget planning is officially underway. The budget calendar below provides the dates of budget public hearings, Mayor and Council meetings, and other items of public interest. Meeting dates are subject to change and will be updated if any changes occur.

Fiscal Year 2023 Budget

The Fiscal Year 2023 adopted operating budget totals $148.8 million for the City’s 11 operating funds. This represents an overall increase of 5.4 percent from the FY 2022 budget. The FY 2023 budget uses resources wisely and focuses on several Mayor and Council priorities, including implementation of the Comprehensive Plan, environmental sustainability and Climate Action Plan, Vision Zero, economic development, and financial sustainability and pandemic recovery. The adopted budget includes no increases in real or personal property tax rates, implementation of the City’s new water and sewer utility rates, a modest increase of $20 per year for the refuse and recycling rate, and a $6 per equivalent residential unit (ERU) increase in the stormwater management fee.

Fiscal Year 2023 Adopted Budget (PDF)

Water and Sewer Rates

The Mayor and Council commissioned a study of the City of Rockville’s utility rate structure in FY20. Staff selected a nationally renowned consulting firm to provide recommendations for creating a new rate structure that creates three customer classes based on the cost of water and sewer service. The rates and rate structure were adopted by the Mayor and Council on November 15, 2021, and took effect on January 1, 2022.