Budget staff and the OMB director reviewed the tax‑cap calculation, the basket of revenues that feed it, and common year‑end practices to preserve funds for multi‑year projects.

OMB staff summarized the taxes included in the tax cap (real and personal property taxes; automobile tax; tobacco tax; motor vehicle rental tax; fuel excise tax; payments in lieu of taxes for state/federal properties; and municipal utility service assessments). The presentation emphasized that the tax cap calculation also adjusts for judgments/settlements and voter‑approved debt service and that inflation and population factors are annual drivers of the cap’s allowable change.

On year‑end lapse rules and multi‑year spending, staff discussed the general project fund mechanism. Greeno explained: “the general project fund is fund 1,900. It does not expire at the end of the year,” and said departments commonly move unencumbered general‑fund appropriations into that fund when a multi‑year project carries across fiscal years.

Staff also highlighted the distinction between general government funds (whose appropriations lapse) and dedicated funds (for example certain service areas, alcohol tax and enterprise assessments) that retain fund balances into subsequent years.

The session was informational; staff provided two‑page reference sheets and asked members to follow up with additional questions if they wanted deeper calculations or maps of tax districts.