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Board amends FY26 budget, uses fund balance to reduce tax rate and approves $1.6M for OptiComm traffic system
Summary
The Board of Mayor and Aldermen voted to allocate a majority of the FY25 fund balance to lower the FY26 tax rate, adopted amendments to the mayor—s proposed budget and approved using $1.6 million from a special reserve for replacement of the city's OptiComm emergency-vehicle preemption system.
The Board of Mayor and Aldermen adopted several amendments to the mayor—s fiscal year 2026 budget on Tuesday, voted to apply two-thirds of an estimated FY25 fund balance to reduce the FY26 tax rate and approved using $1.6 million from a special reserve account to replace the city—s OptiComm emergency vehicle preemption system.
Finance staff presented a projected FY25 fund balance of $2,069,000. By ordinance, that fund is normally split evenly among the rainy day fund, the severance reserve account and tax-rate reduction. The board suspended ordinance…
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