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Fayetteville staff says budget is balanced after council's "parking lot" funding choices; council to consider adoption
Summary
City staff told council the fiscal 2025-26 budget can include council'prioritized "parking lot" items after using $7.3 million of fund balance and projecting $3.2 million in additional sales-tax revenue; council was urged to consider the package for adoption at the next regular meeting.
Fayetteville assistant city manager Jeff Yates told the City Council at a June work session that staff has balanced the 2025-26 budget while including the items on the council'created "parking lot." Yates said the staff'recommended budget uses about $7.3 million of the city's fund balance for one-time items and assumes roughly $3.2 million in additional sales-tax receipts tied to a recent sales-tax agreement change.
The city estimates an ending fund balance of about $24.3 million, Yates said, noting that figure is about $34,000 over the council'set 12% fund-balance goal after the parking-lot allocations. "The balance the budget is balanced," Yates said during the presentation as he walked council through revenue and vacancy assumptions.
Yates told council staff increased the vacancy savings estimate from the prior range to about…
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