Financial Overview

Elevate Tuscaloosa is funded through a combination of sales tax revenue, grants, donations, and matching state and federal funds. The Financial Analysis Subcommittee is responsible for reviewing the budget, which includes making recommendations about project feasibility and costs. Project ideas and budget projections are first sent to the Advisory Council for review and then to the City Council for a decision. Budget and financial information on this page will be updated at least once per quarter.

Updated Nov 10 2020

$53.6M

Funding to date

$20.4M

Spending to date

$383M

10-year Funding Projection

Where has the money come from?

$19.7M

Sales Tax Revenue (Net)

$26.6M

Grants & Private Funding

$7.00M

Borrowed Funds

$381K

Other Tuscaloosa City Funds

Impact Summary
  • Monthly garbage fees were reduced to $3.25 from $21.35 beginning October 1, 2019.

  • Multiple capital projects are underway, some under construction and others in the planning and design phase.

  • Funding to Tuscaloosa City Schools (TCS) for pre-k programs has resulted in hiring new teachers and enrolling every interested, wait-listed child in the program.

  • Funding to TCS has provided 233 members of Tuscaloosa City Schools Class of 2021 with a Dual Enrollment Scholarship for the Fall 2020 semester.

  • During the summer of 2020, funding provided to TCS enrolled 435 additional elementary school students in the virtual summer learning program, nearly doubling participation.

  • During the COVID-19 pandemic, over $1.3 million was invested directly into local businesses to provide financial assistance.

  • As a result of Elevate projects, the city has been awarded over $26 million in grants to-date and is leveraging community partnerships to make a greater impact.

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Spending Activity

Spending Activity

$1.10M

Education Spending

$796K

Administrative Spending

$10.9M

Capital Projects Spending

$0.00

Interest Payments

$7.66M

Community Initiative Spending

$20.4M

Total Spending

Spending details for all Elevate projects and initiatives are listed in the tables shown below. Tables show both spending and funding sources for each project.

Spending

Spent: The amount paid for this project to-date.​
Approved: The amount that has been approved by the City Council to be spent for a specific contract or purpose on this project. In city accounting terms, this is the amount spent + encumbered.

 

Funding

Elevate Tuscaloosa Fund: City funds dedicated to Elevate Tuscaloosa which are allocated to this project.
Other City Funds: City funds from non-Elevate Tuscaloosa sources allocated to this project.
External Funding: Amounts from sources outside of the city, such as grants, or donations from citizens or private companies.

Education Initiatives 
Capital Projects 
Community Initiatives
Administrative
Borrowing
 

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Future Funding

Future Funding for Projects

This section describes how the City of Tuscaloosa currently intends to spend the projected income of the Elevate Fund over the next 10 years. The money will be spent on capital projects, educational programs, community initiatives, and operations and maintenance. These proposals are preliminary and subject to change as projects move from an exploratory phase to phases with an approved budget.

Updated Nov 10 2020

Anticipated project spending and expenses over the next 10 years:

$309M

 

We would love your input!

 

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© 2019 by City of Tuscaloosa.