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Mayor previews FY26 general fund budget, flags pension bond peak and public safety hires
Summary
Mayor Tom Koch presented an overview of Quincy City—s proposed fiscal 2026 general fund budget at the May 5 council meeting, highlighting a peak pension obligation bond payment year, planned public safety hires supported by federal grant funding, an 8% healthcare cost assumption and continued investment in schools and infrastructure.
Mayor Tom Koch gave a citywide preview of the proposed fiscal 2026 general fund budget at the Quincy City Council meeting on May 5, saying the package is focused on maintaining services while absorbing a planned peak payment on a pension obligation bond.
The budget "continues to invest further into our schools and our public safety units," Koch said. He told council members the budget increase this year is "largely due to the pension obligation bond" and that the bond structure produces substantial multi-year savings: "the savings is approximately 168,000,000 over those years." He also said the city obtained a favorable rate on the bond at about "2.62%."
The mayor said public safety and education are the chief drivers of the increase,…
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