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Morgantown council approves budget revision, authorizes conditional use of stabilization fund
Summary
City council approved a first budget revision for fiscal year 2026 to align the cash-basis budget with actual year-end balances, delayed capital transfers and authorized a conditional draw from the Fiscal Stabilization Fund if needed. The vote was 5-1.
Morgantown City Council on July 22 approved a budget revision to reconcile the city’s fiscal year 2026 budget with actual cash balances at the end of fiscal 2025, moving the revision on a 5-1 roll call vote.
Finance Director John Ferguson told council the revision adjusts the carryover figure the city projected when preparing the FY26 budget to actual cash on hand as of June 30, 2025. “We have a total of $2,700,000,” Ferguson said, referring to the actual carryover; the council had budgeted an estimated $3,200,000.
The measure includes several steps to address that shortfall: delaying the FY25 year-end capital escrow contribution that had been budgeted for $2,200,000; partially delaying a FY26 capital escrow contribution ($750,000); reducing the general fund contingency; and…
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