The spending plan -- which was unanimously approved by the City Council on Monday after the panel made a few tweaks -- envisions spending 7 percent more money than the current fiscal year, thanks to improving revenue projections.
Faulconer's plan is the first in years to have unanimous, bipartisan council support.
Faulconer held a signing ceremony in a Mira Mesa cul-de-sac that was recently repaved in order to highlight funding for 300 miles of road repair during the next 12 months. The mayor has promised to fix 1,000 miles of San Diego's shoddy roadways over five years in addition to improving sidewalks and street lights.
"These investments in our neighborhoods will help make San Diego safer, stronger and improve our overall quality of life,", Councilman Mark Kersey said.
The budget will increase the operating hours at three dozen recreation centers, bring Saturday hours to 23 library branches, expand an after-school study program at libraries, restore an office to permit and coordinate local film production, and boost funding for arts and culture programs, among other things.
Council President Sherri Lightner and council members Chris Cate, Myrtle Cole and Mark Kersey also attended the signing ceremony.