Finance and Audit Board presses for deep dive on proposed budget, water-bridge plan and bonds

The Finance and Audit Board at its regular meeting discussed detailed review plans for the proposed 2026 budget and the council'backed water-bridge plan, and asked staff to provide focused presentations on bonds, investments and long-term water costs.

The board's work will aim to support the City Council's decision-making by analyzing financing options, reserve balances, bond timing and the board's investment policy rather than setting policy itself. Chair Berry, Chair, Finance and Audit Board, said the body's role is to "assist the council with a budget" and to provide technical and strategic analysis rather than replace council authority. Board members repeatedly asked staff for detailed briefings on how changes in bond size, market rates and use of reserves would affect utility rates and long-term costs.

Board members and staff focused discussion on the water-bridge plan that would add wells, storage and related infrastructure to reduce reliance on purchased wholesale water. Jay Ayers, staff member, presented a financial model built from a series of assumptions showing a 30-year…