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Five-year forecast shows $1.5M 2026 gap; council weighs levy, services and sales-tax options
Summary
Finance Director John Regine told the Financial Affairs Committee June 3 that, under current assumptions, the five-year general-fund forecast shows a roughly $1.5 million structural gap in 2026 and rising fiscal pressure through 2030 unless additional revenues or program changes are adopted.
Finance Director John Regine presented the city's five-year general-fund forecast (2026'2030) at the June 3 meeting, showing a roughly $1.5 million projected gap in 2026 under the forecast's assumptions and prompting councilors to discuss levy policy, service trade-offs and other revenue options.
Regine said the forecast assumes a 3% operating levy increase and a 0.5% debt-service levy increase each year through 2029 (3.5% total) and then a reduced increase in 2030 tied to net new construction when the city would be limited to growth in the tax base rather than drawing on excess levy capacity. Under those assumptions, the forecast showed the 26'30…
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