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Springfield projects $985.7 million FY26 budget; administration to use $2 million from pension reserve to close gap
Summary
CAFO Kathy Buono told the City Council the FY26 all-funds budget is $985.7 million, up 6.1% from FY25. She said nondiscretionary costs — schools, pension, debt service and benefits — account for roughly 82.5% of the total and that the administration will use $2 million from the pension reserve to close a remaining $2 million gap.
CAFO Kathy Buono presented an overview of Springfield City’s proposed fiscal year 2026 budget on May 12, saying the all-funds budget totals $985,700,000, a 6.1% increase from FY25, and that the mayor has approved using $2,000,000 from the city’s pension reserve to close a remaining shortfall.
Buono told the City Council the city’s operating allocation is $315.7 million (a 4.7% increase) while the school budget is $670 million (a 6.8% increase). She said nondiscretionary obligations — schools, debt service, pension and benefits — total about $813 million, or…
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