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Audit committee reviews FY25‑26 budget changes: veterans exemption, water-rate rise, capital plan
Summary
Finance staff briefed the audit committee on changes to the FY25‑26 budget, highlighting increased costs from disabled‑veterans tax relief, a 15% water‑rate increase, adjustments to school funding and a $7.2 million capital program funded with existing revenues and fund balance.
County finance staff presented a summary of changes to the fiscal‑year 2025‑26 budget and answered committee questions about revenue adjustments, expenditure changes and the capital plan.
Staff said a large recent driver was a shortfall in the machinery‑and‑tools tax (one large taxpayer removed equipment), which reduced revenue by about $350,000. At the same time the county increased its estimate for exemptions tied to disabled veterans and the elderly by roughly $500,000 in the current process; staff reported the…
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