Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Nassau staff proposes balanced FY2526 budget; no tax-rate increase
Summary
City staff presented a proposed fiscal year 2526 budget that holds the tax rate steady, uses leftover certificate of obligation proceeds for capital projects and relies on a modest year-end surplus to balance next year without dipping into fund balance.
City staff presented the proposed fiscal year 2526 budget and told the Nassau City Council they are proposing to keep the tax rate unchanged and not draw on the city's fund balance. "There is no change in our proposed tax rate from last year. We are proposing to adopt the same tax rate that you all had last year, which is $0.5078 per $100 valuation," City staff member Mr. Hemminger said during a Sept. workshop.
The proposal sets general-fund revenues at about $18.5 million, a figure staff said appears to be a roughly 22% increase from last year but is driven largely by an accounting change moving personnel costs from…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
