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City presents proposed FY2026 budget: flat overall revenues, police and fire pension funding changes and a 15% fire-fee increase
Summary
City finance staff presented the proposed fiscal year 2026 budget at the Feb. 25 Committee of the Whole, forecasting stable overall revenues but warning of a potential municipal sales-tax decrease tied to state GIS boundary changes and reporting steps to fund police and fire pensions.
A city finance presenter briefed the Committee of the Whole on Feb. 25 on the proposed fiscal year 2026 budget and major revenue and expenditure assumptions.
The presenter said overall general-fund revenues are expected to remain relatively flat year-to-year (proposed general-fund revenue about $39.4 million). Key revenue points included property tax (about 12% of general-fund revenue historically) and business-and-occupation taxes (combined B&O regular and construction taxes represent roughly 41% of general-fund revenue).
The presenter warned the council that a statewide change in how municipal sales-tax boundaries are calculated — moving…
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