Hollywood Park’s $6.43 million budget for fiscal year 2022-23 features pay adjustments for city employees and increased revenues.

City Council on Sept. 20 approved the new budget, which takes effect Oct. 1.

Local officials said the city is working to help staff cope with inflation and other costs of living with pay adjustments, including a $14,000 hike in police salary increases and more than $129,000 in fire department salary increases.

FY 2022-23 is the first time the Hollywood Park Police Department will have $1 million in budgeted pay. Council Member Glenna Pearce noted a couple of highlights in the new budget.

“One of the few things I really appreciate about this budget is that we have nine and half months of expenses budgeted in cash reserves. I think that’s a great place for us to be as a town. We are also supporting our first responders by paying more competitive retirement benefits and the implementation of a step program to better retain employees,” Pearce said.

Although Hollywood Park is maintaining a property tax rate of $0.461 per $100 valuation, city officials project raising $220,959 more in property tax revenue over fiscal year 2021-22 due to rising appraisals.

City officials project $6.43 million in total general fund revenues compared with $5.66 million in last year’s budget.