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City finance director presents FY26 proposed $148.2M budget; council to hold public hearing May 19
Summary
Assistant City Manager and Finance Director Christie Cluck presented the FY26 proposed budget, outlining $168.1 million in projected revenues, $148.2 million in proposed expenditures and a $19.9 million restricted/net income balance; council scheduled a public hearing for May 19 and budget adoption for June 2.
Christie Cluck, assistant city manager and finance director, presented the City of Stillwater’s proposed fiscal year 2026 budget at the April 21 council meeting, outlining projected revenues, planned expenditures and timetable for public review.
Cluck said total proposed expenditures are $148,200,000 and total projected revenues are $168,100,000, resulting in an organization-wide net income of $19,900,000 that resides in restricted and designated funds. "Total proposed expenditure budget is $148,200,000," Cluck said. She explained most of the net income is restricted for capital and cannot be used for ongoing general fund operations.
The presentation highlighted that, aside from the City’s utilities authority funds, revenues are projected to be relatively flat. For the Stillwater Utilities Authority (SUA) funds, the proposal assumes rate-related increases the trustees approved in 2023: a $2,000,000 increase in electric sales revenue, $2,700,000 in water sales revenue and $200,000 in wastewater revenue. The SUA operating fund shows a projected negative net income of $4,800,000 in the budget draft; Cluck said that deficit would be covered using beginning fund balance while maintaining emergency reserve targets.
Cluck outlined notable expenditure changes: a $2,600,000 increase in other governmental funds for health insurance, a $1,000,000 increase in SUA funds for water-treatment chemicals and outsourced pavement restoration related to leak repairs, and a $1,100,000 increase in debt-service payments for new servers, a fire engine, and vehicle acquisitions. Personnel costs remain the largest share at 44% of the budget; power purchases account for about 20%; debt service about 10%.
Cluck reminded the council that the budget schedule calls for a public hearing on May 19 and budget adoption on June 2; the fiscal year begins July 1. She said capital projects for funds with dedicated revenue streams (transportation, water, wastewater) will be appropriated when contract awards are ready; no general-fund capital is included in the proposed budget because no dedicated funding source is available.
Councilors asked questions about bond rating progress, reserve policies and the mechanics of department budget development. Cluck said the city has improved its position since earlier years and that assumptions about rate schedules are relieving prior pressures on credit concerns.
Next steps: staff will present the required public hearing on May 19 and return to council for budget adoption on June 2.
