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Lake Havasu finance staff: fund balance down $25M since FY21 but draft FY26 budget remains balanced
Summary
City finance staff presented the FY 2025–26 operating and capital budget overview, reporting an undesignated general fund balance decline from $43M in FY21 to about $18M projected in FY26 and warning that ongoing revenues are tightening; the draft budget relies on one-time funds for many capital needs and holds the property-tax rate steady.
Lake Havasu City finance staff told the City Council May 15 that the city’s undesignated general fund balance has fallen from about $43 million in fiscal year 2021 to an estimated just under $18 million for FY 2026, a $25 million decline driven largely by one-time spending on capital and other nonrecurring items.
“Between the lack of additional revenues and the expenditure limit cap that’s set by state law, we must continue to be thoughtful of how we’re spending our ongoing available resources,” Finance Director Jill Olson told the council during the budget overview. Olson said the city has been funding many capital and equipment items…
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