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Coral Gables officials warn tighter revenues will force tradeoffs as pension and one-time gains clash
Summary
Finance staff told the City Commission the FY26 capital budget relies more on one-time funds than in prior years, while recurring revenue available for capital has fallen; commissioners debated the $2 million annual pension COLA, a $3.6 million solid-waste fee cut and the risk of using interest income to pay ongoing costs.
Coral Gables finance staff told the City Commission at a June capital workshop that the FY26 capital plan is being built on weaker recurring revenue than in recent years and on a larger share of one-time funds, leaving fewer resources for long-term priorities.
Assistant Finance Director Paula Rodriguez told commissioners, “Our June 1 property values came in with an increase of about 5.4% … that generates an additional approximately $7,000,000 based on the current millage of 5.559.” She also said recurring funding available for capital this year is roughly $12,900,000 compared with prior years when staff were bringing in “upwards of 18 to $20,000,000 of recurring funding.”
Why it matters: commissioners warned the gap between recurring needs (salaries, benefits, pensions) and one-time revenue (interest, prior-year balances, transfers) creates…
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