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Meridian presents FY26 proposed budget, plans to use fund balance to cover shortfall
Summary
City staff presented a proposed fiscal year 2026 budget that closes a modest operating gap largely with one‑time funds and new construction revenue, while flagging a need for a recurring replacement funding source and possible future policy choices on foregone property tax and a public safety levy.
Meridian City Council on Wednesday reviewed the proposed fiscal year 2026 budget, which city staff said relies on new construction and one‑time fund balance to close a modest shortfall while asking council to consider long‑term replacement funding.
The proposed general‑fund base revenues were presented as about $77.5 million and base expenditures as roughly $79 million, leaving a discretionary gap of about $1.5 million before taking the city's 3% allowable increase and other assumptions into account. Ricardo (budget presenter) said the 3% allowable would cover most of the city's cost‑of‑doing‑business items such as market adjustments and health care, but the budget still relies on new construction and annexation dollars to balance base operations.
"By taking the 3%, you're covering the…
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