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Partner Tulsa staff warn of FY26 shortfall; propose restricted reserves and capital plan
Summary
Staff presented a five-year financial forecast showing near-term revenue pressure driven by parking and city service agreement reductions, proposed restricted cash reserves and a capital plan that lists roughly $9.3 million of possible deferred maintenance and garage work.
Partner Tulsa staff presented a five-year forecast and capital plan and urged trustees to endorse a policy change that would show restricted reserves on the balance sheet and create a plan to address deferred maintenance in parking garages and other assets.
Gary Hamer, director of strategic planning, led the presentation. He described the forecast as a base case that incorporates FY25 actuals and a placeholder personnel budget for FY26, and he said the staff included inflation assumptions and projected revenue reductions tied to parking and the city service agreement. Hamer told trustees the organization is projecting a near-term operating gap and recommended establishing a restricted cash account for capital reserves and a 10% operating reserve.
Hamer and staff outlined several specific items in the capital…
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