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Commission reviews FY26 budget; freight house electrification and tuckpointing compete for limited funds
Summary
The Riverfront Improvement Commission reviewed a draft FY26 budget that includes a proposed $50,000 transfer from the commission’s fund balance to help pay for a $100,000 freight‑house electrical upgrade, prompting commissioners to ask staff to re-evaluate capital priorities and revenue assumptions.
Vosha Gerlach, the city’s new chief financial officer, reviewed the Riverfront Improvement Commission’s draft fiscal year 2026 operating and capital budgets and said salaries and benefits rose 15.75 percent compared with FY25 due largely to prior reclassification for exempt staff.
Gerlach said staff proposed transferring $50,000 from the commission’s fund balance to make up half of a proposed $100,000 freight‑house electrical upgrade, arguing the upgrade would improve the building’s marketability. Gerlach said the commission’s available fund balance was “just over $200,000” and that using the $50,000 would reduce the balance.
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