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  2. MAYOR & FINANCE DIRECTOR PRESENT $113.6M BUDGET FOCUSED ON STABILITY AND EMPLOYEES & INFRASTRUCTURE INVESTMENT

MAYOR & FINANCE DIRECTOR PRESENT $113.6M BUDGET FOCUSED ON STABILITY AND EMPLOYEES & INFRASTRUCTURE INVESTMENT

Monday, March 2, 2026 - 18:48

(Charleston, W.Va.) – Mayor Amy Shuler Goodwin and Finance Director Andy Wood presented a proposed $113.6M FY2027 budget during this evening’s Finance Committee Meeting, reflecting continued financial stability, commitment to city employees, and investments in infrastructure improvements – without increasing taxes or fees.  The proposed budget will be presented to City Council for approval at the March 16 Charleston City Council meeting.    

“Charleston is in a stronger financial position than it has been in decades, and that didn’t happen by accident,” said Mayor Amy Shuler Goodwin. “It reflects years of disciplined budgeting, responsible decision-making, and the hard work of our Finance Director Andy Wood, and our City Team.  We’ve strengthened our reserves, improved our pension standing, and positioned the City for long-term stability – all while maintaining essential services and avoiding tax increases.”  

Strong Financial Position  

The city continues to demonstrate measurable financial stability, including:  

  • $54M improvement in the City’s overall financial position
  • $18.3M in the Rainy Day Fund
  • $26.3M in the Employee Health Reserve
  • Continued strengthening of police and fire pension funding—increasing from under 20% funded in 2021 to nearly 40% funded today

Investing in Employees

The proposed budget maintains all essential city services while:

  • Completing the City’s phased plan to raise the minimum hourly wage to $15 per hour.
  • Providing all city employees with a $1,040 pay increase.    

To strengthen recruitment and retention in the Police and Fire Departments, the proposed budget includes:

  • A continuation of current recruitment incentives.  
  • A new Deferred Retirement Option Plan (DROP) retention incentive.  
  • A phased, multi-year milestone retention incentive for the Police Department.  

Together, these measures are designed to improve workforce stability and support long-term staffing needs. 

Infrastructure & Capital Investment

The proposed budget continues investment in infrastructure and neighborhood revitalization.

  • Paving will maintain a base of $3M, with plans to supplement through additional funding sources—including WVDOH—for a total of $5M+ in road improvements.
  • The budget includes $7.8M in Capital Outlay, which funds major equipment purchases, facility improvements, and long-term infrastructure needs across the Fire, Police, Street, Refuse, Parks and Recreation, Information Systems, and Engineering Departments.  
  • The City will also continue strategic investments in demolitions and revitalization efforts that support neighborhood stability and redevelopment.  

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