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Finance staff presents FY2026 budget plan; warns of possible grant cuts and highlights pension funding move
Summary
Finance staff presented the proposed FY2026 budget and projected FY2025 year‑end figures, noting anticipated federal grant reductions, a planned transfer to a pension reserve fund and capital projects at risk if grants are cut.
Finance staff outlined the proposed fiscal year 2026 budget and projected year‑end fiscal 2025 results during the finance committee meeting on Monday, and highlighted a series of federal grants at risk of not arriving under the current federal budget outlook.
Finance Director Joyner and city staff provided line‑by‑line summaries: the general fund is projected to end FY2025 with about $34.06 million in revenue and expenditures below that level; the proposed FY2026 general fund budget projects roughly $32.18 million in revenue. The water fund will see a significant revenue drop in FY2026 because one‑time loan proceeds…
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