Hilliard council adopts tentative tax budget for fiscal 2026; staff projects a surplus

The Hilliard City Council on June 9 adopted a tentative tax budget for fiscal year 2026 (Resolution 25R44), following a staff presentation of preliminary revenue and expense estimates.

A staff member told council that general fund revenue for 2026 was estimated "a little over $39,000,000," based on recent income tax collections showing growth in March and April; staff used a 5% income tax growth assumption and generally 3% growth assumptions for other revenues. Estimated general fund expenses were described as about $36,000,000, producing a projected surplus of roughly $2,800,000, which staff said meets the state’s balancing expectations for a tentative budget.

Staff described exhibit tables comparing actuals for fiscal years 2023 and 2024, appropriations for 2025, and the 2026 estimates. Exhibit 3 lists fund-by-fund beginning balances, projected receipts and appropriations; staff reported all funds as positive in the tentative plan. Exhibit 4 was described as capital budgets for permanent improvements, reported at a little over $19,000,000; staff emphasized that the exhibit does not include expenses paid from bond issues.

The presenter also discussed debt and refunding policy in general terms, noting the city pays interest twice a year and may consider refunding bonds if market conditions make it advantageous. Council asked procedural and line-item questions; staff said detailed budgeting will continue later in the summer. The resolution passed on roll call with six yes votes.