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Tayo trustees adopt 2026 budget; approve $80,000 internal amendment for relocation costs
Summary
The board approved the 2026 annual budget, projecting a smaller-than-previously-estimated operating loss, and approved a budget amendment shifting roughly $80,000 between line items to cover furniture and moving costs for the seventh-floor relocation.
Trustees approved Tayo’s 2026 annual budget, which staff said projects an improved operating position compared with the prior month’s estimate. Presenting the figures, Lynn told trustees the projected loss for fiscal year 2026 had been updated to $176,000, improved from an earlier $210,000 estimate.
“On the revenue side, we sold the lot at 311 North Boulder,” Lynn said, noting proceeds of $2,600,000 will earn interest and that some relocation expenses were moved into the prior fiscal year. She also said renegotiated consulting contracts reduced expense projections.
The board then approved a budget amendment to shift about $80,000 from consulting/other operating lines to capital expenditures and moving-related fees to pay for new furniture and relocation costs for the seventh floor. Staff said the amendment does not request additional appropriation; it reallocates existing budgeted funds.
Trustees were told the relocation requires furniture and IT coordination; staff said $80,000 should cover furniture and part of moving costs and that IT and connectivity timing remains the gating factor for occupancy.
Both the annual budget and the amendment passed on roll-call votes.
