The Grand Island City Council unveiled a proposed budget for fiscal year 2026 that reflects a significant increase in disbursements, rising by 8.3% or approximately $25 million compared to the previous year. This increase is primarily attributed to excess cash reserves in the general fund and anticipated spending from bond proceeds for various parks projects and the Good Life District.

During the meeting, officials highlighted that while total revenue projections for fiscal year 2026 are expected to rise by a conservative 1.2%, property tax valuations have surged by 8.1%, amounting to an increase of $378 million. Despite this growth, the city plans to maintain its property tax ask at $13 million, the same level it has held for the past seven years. As a result, the proposed mill levy will decrease to 0.241484, reflecting a commitment to fiscal responsibility.

General fund revenues are projected to be 0.7% higher than the adopted budget for 2025, with personnel expenses anticipated to rise by 6.5%. Operating expenses, however, are expected to decrease by 3.48%, leading to an overall expense increase of 4.3%, or about $2.2 million. Sales tax revenues are forecasted to reach $29.7 million, marking a 2% increase over the previous budget.

The council's discussions also included a review of capital improvement projects and equipment purchases for fiscal year 2026, which were detailed in the meeting packet. The budget reflects a strategic approach to managing city finances while planning for future growth and development.