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Staff presents options to close $4.5M gap; property tax, business licenses and operating changes key to a balanced budget
Summary
Finance staff presented revenue revisions and expense adjustments — including a conservative 2% property‑tax growth estimate, a $200,000 upward adjustment to business license receipts and reallocation of asset sale proceeds into the capital fund — as the council works to balance a roughly $4.5 million shortfall ahead of first reading.
At a special budget workshop, finance staff reviewed a list of revenue and expenditure adjustments intended to close an estimated $4.5 million gap between proposed spending and projected revenues.
Finance director Rhonda Roberts told council she had updated several revenue lines since the March draft: staff are using a conservative 2% growth assumption for property taxes (staff estimated roughly $350,000 additional revenue from that change),…
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