SIOUX FALLS, S.D.(KELO)- 781-million dollars…that’s the proposed cost of running the city of Sioux Falls in 2025.

Mayor Paul TenHaken laid out his proposed spending plan in his annual Budget Address this afternoon.

It comes at a time of uncertainty due to the proposed repeal of the sales tax on consumption…which could drastically cut city revenues.

The Mayor says inflation is hitting the city hard, while sales tax revenues are lower than anticipated for the current budget.

Still, he’s asking the city council to join him in making tough decisions while dreaming big.

For the first time since taking office in 2018, he’s proposing a smaller budget for the coming year.

Even though the belt is tighter, the Mayor says transformational investments in the future are still needed.

That site is being eyed as the home of a new convention center that’s under consideration.

The proposal also includes a 77-million dollar Aquatics bond that’s been debated this year.