Breaking Down the Budget FY24

Each Year on July 1, Massachusetts cities and towns must implement a new budget. The City of Worcester’s Fiscal Year 2024 (FY24) budget, entitled Empower Progress: Investing in Equity, Talent, and Culture, took effect on July 1, 2023. Municipal budgets must balance – expenditures cannot exceed revenues. The budget process forces municipalities to confront the challenge of fixed costs, like debt service and pensions, while deciding among priorities like education, public safety, economic development, and public services. This report serves as a breakdown of the FY24 budget.