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Mayor and CFO present tight 2026 budget; councilors debate staff changes, reserves and small community grants
Summary
Carmel officials presented a proposed 2026 budget that uses one‑time savings and reclassified revenues to balance without a property‑tax increase. Councilors and staff debated position cuts, a 3% cost‑of‑living increase for most staff, reserve levels, and small community items such as gazebo concerts.
City officials presented a proposed 2026 budget on Oct. 6 that the administration says balances projected revenue and spending without raising the city’s property-tax rate, but relies heavily on one-time savings and reclassified revenues and leaves several staffing and program questions unresolved.
Zach Jackson, the city’s chief financial officer and controller, said the administration’s general-fund revenue forecast for 2026 is about $144.3 million and the proposed appropriations are roughly the same, producing a small projected surplus. Jackson said the budget relies on $5.2 million of underspent 2025 appropriations, encumbering some capital-lease obligations and using funds that changed category after this year’s state law changes to balance 2026 spending.
“We've proposed a budget that does not require a property tax increase in order to fund our operations for 2026,” Jackson said, adding the plan includes a 3% salary increase for employees but…
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