Oakley Council approves amended FY25 budget, adopts tentative FY26 budget and tentative 0.001 tax rate; Truth-in-Taxation hearing set for Aug. 13

Oakley — The Oakley City Council on a unanimous vote approved an amended budget for fiscal 2025, adopted a tentative budget for fiscal 2026 and set a tentative property tax rate of 0.001, with a Truth-in-Taxation hearing scheduled for Aug. 13.

The actions, taken during a public meeting where staff presented detailed revenue and expenditure summaries, formally appropriate funds for ongoing water projects including the nearly completed Cattail Well, road repairs that consumed Class C reserves after a larger-than‑expected Franzen Lane repair, and a set of capital maintenance items ranging from a $32,000 reroof for the Red Barn to LED upgrades and building repairs for Kattleman’s Hall.

Why it matters: The adopted amended budget and the tentative 2026 plan set spending priorities tied to water-system improvements, road maintenance and facility upkeep and include a $125,000 transfer from the general fund to the water fund to help align water‑system debt and rates. Council members and staff framed the tentative 0.001 levy as a modest, incremental tool to preserve capital and maintenance capacity; staff estimated the change would bring about $35,000 in additional revenue and raise taxes on the average Oakley home by roughly $25 annually.

Revenue and spending details - Staff presented a breakdown of city revenues for fiscal 2025 showing tax revenue (property and sales) and utility billings (water and sewer) each at about 22% of the city’s revenue mix. The rodeo and related ticket/sponsorship revenue comprised a large share of last year’s receipts, which staff said represented roughly 40% of the city’s revenue stream in fiscal 2025. Grant monies accounted for roughly 4% and state/county road funds about 3%. - On expenditures, the general fund covers administration, parks and buildings, contracted public safety patrols (Summit County Sheriff), streets and community celebrations. Capital accounts funded the CSL Arena study and about one-third of a combined master plan/capital facilities study and paid most of phase 2 of new well construction. - The council was advised the city carries two outstanding financings: a 2018 water/sewer bond that paid for Humbug Well improvements and an interim financing arrangement with Science Bank for the Cattail Well. Staff said about 9% of 2025 spending (a little over $200,000) represented debt payments, mostly interest because interim financing has been interest-only to date.

Planned projects and budget assumptions - The tentative 2026 budget incorporates routine operations plus several maintenance and capital items: Red Barn reroof (about $32,000), door and lighting upgrades at Kattleman’s Hall including LED lighting, a concrete pad and sidewalk for the Red Barn access, hallway painting in the indoor arena, purchase/replacement of aging equipment and vehicles (to be financed via a proposed master lease), and completion of the master plan/capital facilities/impact fee study (approximately one-third already paid, with remaining cost budgeted for 2026). - Water‑system work includes imminent completion of the Cattail Well (staff said water could be introduced to the system by mid‑July), about 50% completion of required chlorination work for the Humbug Well (described as state-mandated), and a planned USDA financing that staff said will move from interim financing to long-term debt and begin principal payments. - Utility rates: The council was reminded of a previously adopted five-year water/sewer rate schedule; the fourth-year rate adjustment is scheduled to take effect July 15 and was built into revenue projections for 2026. - Personnel and operating assumptions: The proposed 2026 budget includes a 2.5% cost-of-living wage increase for all employees based on Social Security CPI and regional indexes; staff said no merit increases were included in the proposal.

Truth in taxation and taxpayer impact - Staff explained that because Oakley’s assessed property values have risen, the certified tax rate would fall automatically; restoring the levy to 0.001 would generate an estimated $35,000 more than maintaining the certified (reduced) rate. Using staff figures, the average Oakley home value is $965,000; the example shown projected an average property tax increase from about $504 to $530 annually — roughly $25 a year, or a little over $2 per month. - Council members framed a return to the 0.001 levy as a smaller, incremental approach to building capacity for maintenance and capital needs rather than deferring repairs and incurring larger costs later. The council scheduled the Truth-in-Taxation hearing for Aug. 13 and noted the hearing date must be set by law.

Public comment and other items - Resident Rick Shapiro urged the council to create an emergency public‑welfare fund of roughly $20,000 to support local food programs and Meals on Wheels in light of state and federal cuts. Shapiro proposed a three‑person citizen committee to vet requests and said such a modest fund could meaningfully assist residents in need. Council members received the suggestion; no formal action was taken. - Members also discussed logistical items for the upcoming community celebration and rodeo — including grand marshal participation, parade floats and volunteers — and confirmed arrangements for several parade elements. Those items were discussed informally and no budgetary vote was taken at the meeting.

Votes at a glance - Resolution approving amended budgets for Oakley City funds for fiscal 2025 — motion adopted unanimously (council recorded the motion and declared the vote unanimous). - Resolution adopting a tentative budget for Oakley City funds for fiscal 2026 (tentative tax rate included, pending Truth-in-Taxation hearing) — moved by Kelly (Councilmember), seconded by Joe Frazier (Mayor Pro Tem); adopted unanimously. - Resolution adopting a tentative tax rate of 0.001, pending the Truth-in-Taxation hearing on Aug. 13 — motion by Joe Frazier, seconded by Dave (Councilmember); adopted unanimously.

What’s next - The Truth-in-Taxation public hearing is set for Aug. 13; the council may adjust the final tax rate and adopt a final budget following that hearing. Staff said USDA loan closing and final well completion are expected in July–August, and the master plan/impact fee study payments are budgeted for 2026.