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Learn about Boston Investor Relations, including Featured News, Projects, and The Team.
This is the official investor relations page for the City of Boston. Managed by the city’s Chief Financial Officer and Senior Deputy Treasurer, the City’s Treasury division is responsible for the issuance of all bonds and the City’s investor communications efforts.
The City, incorporated as a town in 1630 and as a city in 1822, exists under Chapter 486 of the Acts of 1909 and Chapter 452 of the Acts of 1948 of The Commonwealth of Massachusetts (the “Commonwealth”) which, as amended, constitute the City’s Charter.
The Mayor is the chief executive officer of the City. Mayor Michelle Wu's term began on November 16, 2021. The Mayor has general supervision of and control over the City’s boards, commissions, officers, and departments. The portion of the City budget covering appropriations for all departments and operations of the City, except the School Department and the Boston Public Health Commission, is prepared under the direction of the Mayor.
The legislative body of the City is the thirteen-member City Council. The City Council enacts ordinances and adopts orders, which the Mayor may either approve or veto. Ordinances and orders, except orders for the borrowing or appropriation of money and the reorganization of City departments, may be enacted by the City Council over the Mayor’s veto by a two-thirds vote. The City Council may reject or reduce a budget submitted to it by the Mayor, but the City Council may not increase a budget.
Michelle Wu was officially sworn in today as the next Mayor of the City of Boston.
Mayor Wu, the first woman and first person of color to be elected Mayor of Boston, took the oath of office in the Boston City Council Chamber, just two weeks after her history-making election.
The program began with the Pledge of Allegiance, led by Boston Public Schools student Eliana Rivas, and Rev. Dr. Arlene O. Hall, Lead Pastor of Deliverance Temple Worship Center, delivered the invocation. Following remarks from outgoing Mayor Kim Janey, Judge Myong J. Joun administered the Oath of Office to Mayor Wu; the Mayor’s husband and two sons held the Bible used for the swearing in.
Mayor Wu was sworn in on the Aitken Bible, the earliest complete English-language Bible printed in America. Often known as the “Bible of the Revolution,” it was published by Robert Aitken in 1782 and it was endorsed by the Congress as a symbol of American ingenuity. This Bible is owned by the City of Boston and is one of the treasures of the Boston Public Library’s collections.
_Mayor Wu offered the following as-prepared remarks after her swearing-in: _
Good afternoon Wu Train family, we’re back together so soon! I’ve missed you over the last two weeks.
Thank you Mayor Janey for your beautiful remarks and your trailblazing leadership, and thank you Senator Warren, Senator Markey, Congresswoman Pressley, Governor Baker, and all our colleagues in state, county, and local government for sharing this moment.
Thank you especially to the Boston City Council for hosting us here. President Pro Temp O’Malley, sitting members, and incoming new Councilors-elect:
Ruthzee Louijeune, Erin Murphy, Brian Worrell, Kendra Hicks, and Tania Fernandes Anderson — Congratulations, and I can’t wait to celebrate your Inauguration in January!
Thank you, Boston.
I am honored to stand here, in this Chamber that has meant so much to me, as your next Mayor…
The first time I set foot in Boston City Hall, I felt invisible— swallowed up by the maze of echoing concrete hallways, intimidated by the checkpoints and looming counters, reminded that my immigrant family tried to stay away from spaces like these.
But our family’s struggles brought me to an internship with Mayor Menino and his Chief of Staff Mitch Weiss, and an unexpected full-circle journey over the last decade.
Today I know City Hall’s passageways and stairwells like my own home. And this space is most special.
I learned the ropes of city government and politics on this floor, held the gavel on this floor, nursed babies on this floor, delivered paid parental leave on this floor, language access, food justice, housing protections, climate progress, and have reveled in the growing representation and power of our communities that our Boston City Council continues to embody.
But since we’re here today, I must share that the Council floor wasn’t always this way. When I joined the Council, this space wasn’t fully accessible to everyone. The floor that some are sitting on right now, was much lower, designed as a pit three steps down — a striking feature part of what many or I would call the beautiful architecture of City Hall.
Three steps prevented Bostonians in wheelchairs and with mobility challenges from coming down directly to testify on this floor and advocate for change. Those three steps were a barrier between our government and the people we are here to serve.
So we changed what this space could be, reshaped it to be accessible for everyone, and brought the floor level up three steps.
When we make City Hall more accessible, we are all raised up.
When we communicate in many languages, we all understand more.
Most of all, when we connect the power of city government to the force of our neighborhoods and communities, we see how much is possible for our city.
City government is special. We are the level closest to the people, so we must do the big and the small. Every streetlight, every pothole, every park and classroom, lays the foundation for greater change. Not only is it possible for Boston to deliver basic city services and generational change — it is absolutely necessary in this moment.
We’ll tackle our biggest challenges by getting the small things right, and by getting City Hall out of City Hall and into our neighborhoods, block by block, street by street.
After all, Boston was founded on a revolutionary promise: that things don’t have to be as they always have been. That we can chart a new path for families now, and for generations to come, grounded in justice and opportunity.
And we can take steps to raise us all up to that promise, together.
Several weeks ago, at Roxbury Community College, I met a young leader and student in our community. Brandon lives in Mattapan and takes the 28 Bus to class. He found out one day from a local business on Blue Hill Ave that the Mayor of Boston had worked to make the 28 Bus free, and it changed his life. What used to be a frequent headache of asking mom for $2 to get to class, opened up into justice and opportunity.
For Brandon and for our communities:
Our charge is to see every person and listen.
To meet people where they are.
To give hope. And deliver on it.
To find joy, in the words of the amazing Kim Janey, and spread it. Let history note not just who she was in this office, but all she got done, and all she will continue to do for our city.
Our charge is to fight urgently for our future, for the young people at the Burke High School who are here with us today, for Blaise, Cass, Ellie and Addie, for all our kids, and their kids to come.
The first time I set foot in Boston City Hall, I felt invisible. Today I see what’s possible in this building, and I see all the public servants raising us up — frontline workers, first responders, teachers and bus drivers, building inspectors, city workers. I am deeply honored to work alongside you and I ask everyone to join me in expressing our gratitude for your service. And I ask everyone to join us in service of our communities.
Boston, our charge is clear. We need everyone to join us in the work of doing the big and the small, getting City Hall out of City Hall, and embracing the possibility of our city.
The reason to make a Boston for everyone is because we need everyone for Boston, right now.
We have so much work to do, and it will take all of us to get it done. So let’s get to work.
Mayor Kim Janey today resubmitted her Administration's Fiscal Year 2022 (FY22) budget, which builds on her commitment to Boston’s equitable reopening, recovery and long-term renewal from the COVID-19 pandemic. As a result of a strong local economy and a significant infusion of federal funding from the American Rescue Plan, the $3.76 Billion FY22 operating budget proposes a year-over-year increase of $152 million, or 4.2 percent over FY21, and the $3.3 Billion Capital Plan represents a $200 million increase, the largest capital plan ever. The resubmission follows over 36 City Council hearings and working sessions that helped identify opportunities for further targeted investments and cost-savings.
“During the past fifteen months, Boston has come together like never before, and we must take that spirit of collaboration and compassion and translate it into real investments for the City of Boston and our residents,” said Mayor Janey. “COVID-19 has brought on unprecedented economic and social change for our city, and this budget proposal meets the moment and makes targeted investments to ensure that as we recover from this public health crisis we are not going back to normal, but going forward better than before. I am proud of this budget and the enormous work that goes into running our City government and providing the services Bostonians need and rely on.”
In this budget resubmission, the City of Boston will make further investment in core city services and resident needs, while centering an equitable recovery from the COVID-19 pandemic. After 36 public City Council hearings and robust public conversation, Mayor Janey’s revised budget offers support for Boston’s workforce, ensures the City’s neighborhoods are safe and welcoming, and fosters joy in our communities. All investments place equity at the forefront. To help recover from the financial and economic impacts of COVID-19, the city is expected to receive over $500 million in federal funding from the American Rescue Plan Act for use through the end of 2024. Of this funding, Mayor Janey has proposed a $50 million emergency relief plan to support an equitable recovery and reopening for Boston residents, workers and small businesses.
The allocation of this immediate funding was guided by the City of Boston’s Equitable Recovery Coordinating Committee (ERCC), which is being formed to ensure the equitable and efficient coordination of stimulus resources for the short- and long-term benefit of Boston residents, with an intentional focus on those who have been hurt most by the pandemic. The ERCC is steered by City leadership, with additional representation across City departments and external stakeholders.
“In the midst of historic transition and COVID-19 recovery, Boston definitely needs a strong budget for the year ahead," said Councilor Kenzie Bok, the Chair of the Council's Ways & Means Committee. "We are poised as a City to make major investments in key recovery needs such as green jobs, affordable housing, and a robust capital plan. I am very glad that, through the Council’s budget scrutiny process, we’ve been able to work with the Administration to make important further adjustments that increase funding for safer streets and sidewalks, support our low-income retirees, enhance fire coverage, and expand job opportunities for young adults. The adjustments we've made will also boost our long-term efforts to preserve neighborhood history, create new units of public housing, and tackle the challenge of digital equity. I look forward to ensuring that we start the fiscal year in a strong position to execute on all these plans; the people of Boston deserve no less.”
Mayor Janey has made supporting Boston’s workforce a top priority. Her Administration’s proposed budget resubmission showcases a commitment to creating opportunities for all of Boston’s workers and developing supports to prepare our workforce for the jobs of the future. Mayor Janey’s proposed budget includes:
As part of her budget resubmission, Mayor Janey is also recommending the creation of the City’s first Chief of Workforce Development, $300,000 in jobs and work opportunities for young adults, a Career Counselor Librarian pilot program in East Boston, Mattapan and Roxbury, increased investments in Women's Advancement-Salary Negotiation Trainings and Wage Gap Training for Employers, and new funding that supports our long-term city workers with an update to the retirement Cost of Living Adjustment (COLA) Base.
Mayor Janey’s FY22 budget proposal is built to support residents with a key focus on equitable distribution of resources to support residents who have been most impacted by the COVID-19 pandemic. Mayor Janey’s proposed budget includes:
As part of her budget resubmission, Mayor Janey is also recommending $1 million for the City’s first Office of Participatory Budgeting, investments in a new Healthy Places Initiative targeted for environmental justice populations, who often live in hotter neighborhoods with less tree canopy cover, and $250,000 in additional resources to support equitable procurement and access for City contracts.
Mayor Janey recognizes the importance of making sure that all Boston residents are able to feel safe and welcome in our neighborhoods. This budget helps support additional affordable housing opportunities and alternative models to traditional policing. The proposed budget includes:
To expand on the Mayor’s commitment to creating welcome communities, Mayor Janey also recommended an additional $2.25 million investment to address road safety issues, add funding to recruit additional firefighters, and preserve the Immigrant Defense Fund and expand support for the Temporary Protected Status program.
Mayor Janey created her Joy Agenda as an investment in Boston’s collective wellbeing as we recover from the COVID-19 pandemic. This citywide approach creates open and safe spaces, reimagines policies and practices to promote city services, creates ways for residents to reconnect with each other, and invests in arts and culture, small businesses, and youth. Mayor Janey’s proposed investments for the Joy Agenda include:
Mayor Janey’s resubmitted budget proposal includes investments for Joy Agenda mini grants, investments in exploring municipal broadband so all neighborhoods can access reliable internet, support for future outdoor dining for restaurants, and the launch of the Healthy Places Initiatives to mitigate adverse impacts of excessive heat.
Mayor Janey’s FY22 budget proposal expands upon her forward-looking plan to support Boston's equitable reopening, recovery and long-term renewal. For more information about the budget, visit Boston's budget website at budget.boston.gov.