The Fiscal Year 2017 (FY17) budget decreased .7% from Fiscal Year 2016 (FY16). The City budget steadily increased from 2005 until 2008, when Sierra Vista and the rest of the United States experienced recession. Due to conservative budgeting and strict financial management, the City did not experience the same budget shortfalls that many others did around the country. Following the recession, the FY10 Budget was inflated due to one-time revenue of $21.5 million in American Recovery and Reinvestment Act Funds. Since then, the City has continued to project revenue decreases and has budgeted accordingly. The City implemented budget reduction measures before adoption of the FY14 Budget. These measures included a hiring freeze, reorganizations, and a reduction in capital expenditures, which have continued in the years since. As a result, the FY17 budget reflects fiscal stability through conservative budgeting and ongoing efficiencies and reductions in operations and maintenance costs.