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Selma budget draft shows conservative revenue, 20% reserve policy and council debate over land purchase impact
Summary
City finance staff presented a conservative draft FY 2025–26 budget that maintains a 20% general‑fund reserve policy; council members pressed staff about falling general‑fund balances and the $1.5 million land purchase that contributed to recent net losses.
Selma City staff presented a proposed FY 2025–26 budget on May 28 that uses conservative revenue projections and retains a 20% general‑fund reserve policy adopted in 2022. Finance staff said the city’s ending projected fund balance is about $14.74 million and that the reserves are set aside to cover roughly three months of operating expenses.
At the meeting, the finance director (unnamed in the transcript) and council discussed the city’s recent general‑fund trajectory: adopted revenues of about $21.2 million, estimated revenues at $19 million in the current year, and a projected…
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