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Olive tte council adopts FY 2026 budget; finance director warns reserve policy triggered and manager to present correction plan
Summary
The council adopted the FY 2026 budget (ordinance 2817) and a 10-year capital improvement plan; finance staff described a projected structural imbalance driven by declining general fund sales-tax receipts, high personnel costs, and transfers, triggering the city's reserve policy and requiring a city-manager plan to correct within two years.
On June 24 the Olivette City Council adopted the fiscal year 2026 budget and approved a 10-year capital improvement plan, while city finance staff told the council the city's reserve policy had been triggered and a corrective plan would be required.
Director of Finance Darren Mann presented the FY 2026 budget and told the council the appropriation the body was adopting amounted to roughly $18.7 million. "We're actually approving that expenditure... roughly an $18,700,000 budget," Mann said. Mann outlined multi-year revenue and expenditure trends, noting a decline in general-fund…
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