Finance projects modest tax growth for FY26; council hears transfer of stormwater bond proceeds

City finance staff briefed council on revenue forecasts for fiscal year 2025–26 and explained a proposed intradepartmental transfer of stormwater bond proceeds within the Tulsa Public Facilities Authority (TPFA) funds.

Jared Morton in the budget office explained the ordinance on the council agenda to transfer available appropriations in the TPFA 2023 stormwater fund from the Comanche project to a stormwater facilities project. Morton emphasized a legal constraint on the funds: because the revenue originated from stormwater bonds, bond proceeds are restricted to stormwater purposes and cannot be used to cover non‑stormwater project gaps. He said the Comanche stormwater components are nearing completion and the remaining stormwater bond proceeds will be reassigned to the…