Committee forwards first FY27 budget amendment, including $3.0M for annual wage adjustments

Michael Walters Young, the city's Chief Budget Performance Officer, told the committee that Draft Ordinance 2026-26 is the first budget amendment of the year and includes three major components: (1) distribution of annual wage increases, (2) carryovers and minor expenses from the prior year, and (3) new purchases and project carryovers. He said the net change to the general fund is zero (state law requires budgets to remain balanced) but that budgeted activity increases by $101,046 due to reappropriations and that $3,002,921 is being redistributed to fund cost-of-living and merit adjustments effective July 1, 2026.