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City presents largely level mayor's budget; public safety and education funding rise
Summary
City finance staff presented an overview of the mayor's proposed fiscal 2026 budget, highlighting increases for public safety, education and capital equipment, modest headcount growth, projected vacancy savings and a potential fall bond refunding opportunity.
The city's finance staff told the committee that the mayor's proposed fiscal 2026 budget holds overall services steady while increasing funding for public safety and education.
The presentation matters because it sets the framework for departmental workshops and public hearings that will determine whether the proposals become part of next year's spending plan.
Finance staff opened with potential debt-service savings: "We saw, you know, in total $10,000,000 in interest rate savings," they said, adding the city has "callable bonds that will become callable in September" with about $52,000,000 in principal outstanding and an opportunity to refund those securities in the fall. The presenter said staff did not build those savings into the current budget because of economic uncertainty.
On recurring costs, the presenter said the city's retirement fund contribution increased by about $2,700,000 to follow actuarial recommendations. Health-care costs were projected to rise "about 4%," and general-liability insurance was increased by…
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