Want a clear view of how a city actually pays for people, projects, and progress? On Inside Richmond: The City’s Pulse, host Lindsay Darnell sits down with Mayor Ron Oler and Beth Fields, Director of Strategic Initiatives, to unpack Richmond’s 2026 budget. They explain what comes in, what goes out, and why some dollars cannot be moved even when needs feel urgent. If you have ever wondered why sewer funds cannot fix park trails or how a fire engine gets financed, this episode breaks it down clearly.

The conversation starts with the basics: revenue versus appropriations, and how a “balanced” budget differs from a “funded” one that taps reserves. They explore municipal bonds, which are low-interest, tax-exempt tools that allow the city to build now and repay over time. You will also learn about the five main spending categories: personnel, supplies, services, capital outlay, and debt service. The team explains how fund accounting legally restricts certain revenues, why the general fund remains the workhorse for police and fire, and how financial choices in one department ripple through 13 departments and 33 divisions.

Tax policy plays a huge role too. Indiana’s property tax caps (1% for homesteads, 2% for rental or agricultural, and 3% for commercial) protect homeowners but reduce city revenue. For Richmond, those caps have meant millions less each year and roughly $120 million foregone over 15 years, requiring careful prioritization and conservative forecasting. The comprehensive plan helps guide those priorities, aligning spending with long-term community goals. You can see every detail of Richmond’s budget, including revenue, expenditures, and tax rates, at https://gateway.ifionline.org/

Grants also shape progress. Hear how a $2.95 million READI grant helped kickstart the Six Main housing project, covering demolition and early site work through public bidding while keeping local subcontractors involved to maximize community impact. By the end, you will understand how the 2026 budget works, why protecting cash balances matters, and how patience with new revenue streams prevents midyear cuts.

To view Richmond’s full Comprehensive Plan, visit https://portal.laserfiche.com/Portal/DocView.aspx?id=220297&repo=r-979ae874&fbclid=IwY2xjawN6yHRleHRuA2FlbQIxMABicmlkETFyVUZPcDh1Y3Vkd0xKajFlc3J0YwZhcHBfaWQQMjIyMDM5MTc4ODIwMDg5MgABHldLbhFV4Y0UoP9KXxDBa6_zAGuFKYfjVQxj9bc39yMwIPGWcALI978XkQcJ_aem_l-hTzaKMBASNhaKxwHtR7Q