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Carmel staff presents FY 2025–26 recommended budget; council to workshop on May 21
Summary
City staff presented a recommended fiscal-year 2025–26 budget with $34.7 million in forecasted revenues and $39.7 million in planned expenditures, prompting council questions about reserves, capital carryovers and specific project costs; a detailed council workshop is scheduled for May 21.
City staff delivered an overview of the recommended fiscal-year 2025–26 budget and scheduled a detailed council workshop for May 21 to gather questions from council and the public.
Jamie (Finance) told the council the recommended budget shows $34,700,000 in revenues and $39,700,000 in total expenditures, a gap of about $5 million funded from fund balance if all projects proceed as planned. “The total recommended expenditures is 39,700,000.0,” Jamie said. He described the three largest revenue sources as property taxes ($9.2 million), sales taxes ($10.1 million) and transient-occupancy taxes ($9.1 million) and noted those three account for roughly 83% of anticipated revenues.
Staff said…
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