Denver unveils budget cuts due to drop in consumer spending

The city of Denver is facing financial challenges due to a significant drop in consumer spending, prompting Mayor Mike Johnston to propose a budget for 2025 that includes substantial cuts to various programs. The chief financial officer, Nicole Doheny, highlighted that Denver's projected revenue growth for 2025 is only 1.1%, marking the lowest growth since the pandemic. This situation mirrors difficulties faced by other major cities like Los Angeles and Chicago. The proposed budget allocates $1.76 billion, with $77 million cut from migrant services and $84 million from the All In Mile High homeless initiative. Despite these cuts, the budget aims to invest $38 million into the Vibrant Denver initiative, which focuses on supporting neighborhoods and businesses. Additionally, $215 million is earmarked for affordable housing and healthcare, with Denver Health receiving $74 million. The budget also includes plans to train new police recruits, firefighters, and deputies while avoiding furloughs or layoffs for full-time employees. New initiatives such as increasing electric vehicle charging stations and expanding after-school programs are also part of the proposal. Mayor Johnston emphasized the importance of prioritizing essential public services while maintaining fiscal responsibility. The proposed budget is now set to be reviewed by the Denver City Council, with a deadline for final approval on November 12. The mayor expressed optimism about the city's efforts to address homelessness, noting that nearly 1,900 individuals have transitioned indoors as part of the All In Mile High initiative, aiming to end street homelessness for veterans.