Mexico City Council Gives Final Budget Approval

The Mexico City Council gave final approval for the 2020 fiscal year budget at Monday’s meeting.

The city is expecting $17,202,850 and revenues with $19,063,533 in expenditures.

The remaining $1,860,683 will be balanced using remaining funds from prior budget years as well as municipal bonds.

Some budget challenges identified include property valuation decreasing nearly half a percent this year, a 14.3 percent increase in e-commerce since last year and the ongoing trade war with China. Soybean prices are at an all time low.

The city will maintain the 85 full-time employees, and will implement a living wage adjustment in the budget. Public Safety Officers will receive a boost in pay to attract and maintain qualified staff.