Proposed FY24 Budget & Schedule
Proposed Capital Improvement Plan / Proposed Municipal Budget
April 4, 2023 - The City Manager and School Superintendent present their respective budget proposals to the City Council. The public has up to 3 minutes each to comment at this meeting. (Public Hearing Notice, Sentry published 3/24 and displayed at City Hall, Library & Community Center per Council order)
April 11, April 25, May 9 (tentative) and May 23, 2023 - Additional budget information will be discussed. The public has up to 3 minutes each to comment at these meetings.
May 16, 2023 - City Council votes on the final School budget.
June 13, 2023 - Voters decide fate of School budget at this June referendum.
June 20, 2023 - City Council gives final approval to the City portion of the budget.
Budget and Financial Reports for the City of South Portland
The Annual Reports are a fiscal year snapshot of financial transactions, statement of assets and liabilities, departmental accomplishment, improvements, awards and other matters of historical significance.
The Annual Comprehensive Financial Report is the audited financial statements of the City. The statement is compiled from a review by a certified accounting firm utilizing Governmental Accounting Standards Board (GASB) requirements.
The Municipal Budgets are the approved budgets from the last three fiscal years for both the City and the School Department.
The Capital Improvement Budget is a seven year plan of expenditures for projects and equipment that have a greater than fiscal year life span.
Bond Ratings
Moody's assigns Aaa to the City of South Portland, ME's GOs; stable outlook
- See Official Moody's Rating Action Report (March 15, 2022)
S&P Global Ratings assigned its 'AAA' rating to South Portland
- See Official S&P Ratings Report (March 14, 2022)
SOURCE: Moody’s Investors Service - Aaa ratings are assigned for issues judged to be of the best quality, carry the smallest degree of investment risk and are generally referred to as “gilt edged”. Interest payments are protected by a large or by an exceptionally stable margin and principal is secure. While the various protective elements are likely to change, such changes as can be visualized are most unlikely to impair the fundamentally strong position of such issues.