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City Manager Yi-An Huang speaking at a podium under a tent with a banner reading "Just A Start, 52 New Street." He is standing in front of a microphone at an outdoor event. There are listeners seated around him.

Hear from City Manager Yi-An Huang on this year’s budgeting process, main priorities in this year’s budget, and the city’s goals for the coming year.

Graphic of a residential street with diverse architectural styles of houses. Behind them is a blue bar graph, with each bar a bit taller and darker in hue from left to right. A rising red arrow sits atop the slope of the bar graph. Coins are also floating in front of the graph.

How the Budget Process Works

Learn how the City prepares its budget each year.

The eight members of the Cambridge City Council posing for a photo in front of the main staircase in City Hall. There's a pillar on each side of the staircase, each flanked with a long, rectangular iteration of the American flag and a green plant in front. Half-circle American flags hang from the windows in the background.

City Council Updates Goals; Forms Basis for City’s Budget

The City’s goals for this year’s budget include improved housing access, transportation, climate resilience, and other investments in the community.

A group of eleven people wearing hard hats and holding shovels participate in a groundbreaking ceremony at a construction site. They are standing on a gravel surface with a backdrop featuring construction fencing and a partially visible sign.

The Most Significant Investments in the FY25 Budget

Review the total consolidated spending by key areas of this year’s budget.

A smiling teacher supervises three students working on a classroom assignment at a table, pointing at one of their papers. The room is bright with educational posters visible in the background.

A Deeper Look at Key City Initiatives for FY25

Take an in-depth look into the City’s major initiatives for the new fiscal year--from affordable housing to traffic safety.

A young girl with curly hair smiles and holds a piece of chalk in a classroom next to another child who is seated at the table, writing with chalk. Other students, a teacher, and classroom materials are visible in the background.

The Most Significant Budget Modifications

See the major changes to this year's budget compared to last year.

The Valente Library Branch, a modern building with large glass walls and a curved, sloping roof illuminated at night, is located on a tree-lined urban street. Pedestrian crossing lines are visible in the foreground.

New Budgeted Positions

Learn about the seven new full-time positions included in this year’s budget and other changes to the City's organizational structure.

City Hall stands tall on a bright, sunny day with blue skies and a few clouds. Neighboring buildings are shown, as well as pedestrians, bikers, and cars on Mass Ave, and there are colorful crosswalks painted with Pride colors.

Cambridge Awarded Three AAA Ratings for 25th Consecutive Year

Read about the City’s favorable credit ratings and their implications for the budget.

Illustration of a vibrant cityscape featuring a variety of urban activities: people biking, walking, enjoying a picnic, and skateboarding. The backdrop includes diverse buildings under a clear sky with the sun partially visible.

Economic Success Spurs Expanded Budget

Cambridge’s economic success and strides in employment, including in the higher education and life sciences sectors, help make the City’s budget possible.

Illustration featuring a diverse group of people standing atop a green hill and joyfully raising their hands. They're set against a stylized background with illustrations of a sun and clouds as well as an overlaid image of City Hall. The background also includes the words "PRIORITIES" and "VALUES" in uppercase letters, emphasizing key themes. The overall mood is celebratory and inclusive, suggesting a community focused on shared goals and principles.

Financial Outlook Focuses on Preserving Future Financial Flexibility

Look ahead to the City’s future financial outlook and efforts to preserve flexibility and stability.

New affordable housing units under construction at 605 Concord Avenue.

Housing Data & Facts

Review some of the latest housing data about market trends, the City’s investment in affordable housing, and other local housing-related facts.

An affordable housing property under construction at 116 Norfolk Street.

Leading Priority and Key Areas of Focus

Affordable housing has long been a top priority for Cambridge, starting with the City Council. In support of this, the City commits substantial resources and works diligently to address affordable housing needs in the community.

A social worker talking to a resident at a table in the Cambridge Public Library.

Accomplishments Over the Past Year

Overall, in FY24, the City is dedicating more than $60 million from a variety of sources to address affordable housing and homelessness. The fiscal year 2023 resulted in a number of key accomplishments.

Park View: a limited equity housing cooperative organized in Cambridge in 1984. It was sponsored by the City of Cambridge as an affordable housing initiative for low- and moderate-income people and received assistance from the City’s Community Development Department. The cooperative consists of 12 units, a mix of one, one and a half and two-bedroom units.

Affordable Housing Trust Expands and Protects Affordable Housing Opportunities

The Affordable Housing Trust has worked to shape housing programs and policies, fund the purchase of residential buildings and development sites for affordable housing developments, and provide funding that preserves and creates affordable housing for low- and moderate-income families in Cambridge. 

A house at 6 Union Street before being renovated through the Home Improvement Program.

Overview of Rental and Homeownership Programs Offered Through the City

The City offers a number of rental and ownership programs that ease financial burdens, make necessary repairs, and provide educational opportunities.

Work Underway Across the City for New Affordable Housing

There are a series of affordable housing developments underway across the city. See some of the highlights.

A sign extending from a building that reads "Cambridge Multi-Service Center."

Multi-Service Center and Office of Housing Liaison Go Above and Beyond to Help Residents Experiencing Housing Challenges

The Office of the Housing Liaison (OHL) and the Multi-Service Center (MSC) play key roles in addressing housing rights, eviction prevention, and homelessness.

Did You Know?

There are a number of affordable housing services, special events, and cost-assistance programs available throughout the City.

Cambridge Housing Authority and City staff at a ribbon-cutting ceremony for the opening of a new property.

Partner Profile: Cambridge Housing Authority

The Cambridge Housing Authority, a long-time partner of the City, invests in Cambridge families and provides enhanced support to almost 10% of the city population.

Participatory Budgeting delegates discussing in the chambers

Participatory Budgeting in Cambridge Turns 10!

Participatory Budgeting, a democratic process that empowers community members through civic engagement to decide how to spend part of a public budget, turned 10 this fall.

Image of Cambridge City Manager Yi-An-Huang

City Manager's Message

An overview message from the City Manager outlining the budget process, the City's financial stability and the importance of transparency on how we spend our money

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