Fairbanks approves the 2021 budget, planning to spend $38 million

The Fairbanks City Council voted Monday to unanimously approve next year’s city budget.
City revenues turned out to be 4% higher than what the city projected in 2020. The $1.2 million increase came from the gasoline excise tax and state compensation for some of the city spending.
In 2021, the city expects to spend almost $38 million, which is about one million less than last year. The difference comes from increasing the spending on city services but spending less on capital projects.
“I am very proud that the city finances are well managed, and we remain debt free,” Mayor Jim Matherly wrote in a letter accompanying the budget.

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