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Finance director previews fiscal 2026 budget, warns of $2.3 million adjustment need by 2028
Summary
Finance director Bridget (Bridal) Wood presented initial fiscal‑2026 budget information, fund balances, property tax rollback changes and a timeline for hearings; council discussed levy growth, lost automated traffic‑enforcement revenues and the need to find roughly $2.3 million to balance future years.
Finance Director Bridal Wood presented the city’s initial fiscal‑2026 budget update, describing current revenue collection, fund balances, valuation changes and a timeline for upcoming budget and levy hearings.
Wood said the city has received about 53% of budgeted property taxes and other city tax revenue is at roughly 52% of expectations for the fiscal year. She summarized general‑fund expenditures for fiscal 2025, noting 45 cents of every dollar went to public safety and the unassigned general‑fund balance stood at 37.1% as of June 30, 2024. "Our actual fund balance for the general fund was a little over $41,000,000 with the unassigned being the $27,000,000," Wood said.
She reviewed the…
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