Ra'anana has set its budget for 2008 at NIS 480 million, a rise of NIS 26 million - or 5.7 percent - from 2007, reports local.co.il. The city plans to raise its spending significantly on a number of departments, including culture and youth (up by NIS 1 million to NIS 25.8 million), sport (up by NIS 2 million to NIS 23 million), education (up by NIS 7 million to NIS 116.6 million), and "informal education" (up by NIS 2 million to NIS 25 million). According to the report, NIS 210 million will be spent on development, including NIS 62.1 million for renovations to educational institutions; NIS 7.8 million for the continuing upgrade of Rehov Ahuza and NIS 2.5 million for new bicycle paths in the north of the city. Events scheduled for Independence Day celebrations will cost NIS 1.7 million. The report said the city expects to earn NIS 204.5 million from taxes in 2008.