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Council gives direction to pursue equipment financing and supports recommended tax rate range for FY 2025–26 budget
Summary
City staff presented a draft FY 2025–26 budget and a recommended financing plan for multi-year equipment purchases; council members gave staff direction to proceed with certificates-of-obligation financing and signaled support for the recommended tax-rate approach.
City Manager Brent Parker and staff led a work session on the proposed all-funds FY 2025–26 budget on July 8, covering revenue assumptions, staffing requests and capital priorities across multiple funds.
Parker said the budget assumes an 8% increase in sales tax revenue and includes personnel and one-time requests across departments. He noted planned borrowings for roads already scheduled and described an equipment list staff recommended financing through public property financing (certificates of obligation). "If we were to fund all 6.5 million, it would raise the debt side of the tax rate about 1.06¢," Parker said while discussing a proposed group of equipment and infrastructure items.
The items staff identified as candidates for financing included…
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