Richmond commissioners present revised FY2026 budget in first reading

The Richmond City Board of Commissioners took up Ordinance 25‑18, the fiscal year 2026 budget, in a revised first reading at its regular evening meeting.

Finance Director Sharon summarized the highlights of three major funds, saying the general fund showed an estimated balance carried forward of $20,000,000, revenues of $44,661,200, state and federal funds of $670,804, total resources of $65,332,004, appropriations of $49,906,845 and an estimated ending balance of $15,425,159. She said the contingency reserve fund began with $27,222,597, had $1,875,000 in revenues and an ending balance of $29,097,597. The capital projects fund carried forward $9,861,489, reported $575,000 in revenues, $2,479,395 in state and federal funds, total resources of $12,915,884 and appropriations of $10,859,733 leaving an estimated ending balance shown in the presentation.

The ordinance as presented is a first reading; the city manager explained the document is a revised first reading because adjusted job descriptions were added to the draft and the commission will hold a second reading and vote at a special‑called meeting Thursday at noon. Commissioner Cole noted the commission intends to continue a competitive nonprofit grant program of $50,000 and said that application details will be published and administered through a structured process.

The first reading advanced to discussion after a motion to bring Ordinance 25‑18 to the floor; a final vote on adoption will occur at the second reading following publication in accordance with state law.

City officials did not adopt the ordinance tonight; the finance director and city manager said departments and staff contributed to the budget presentation and the administration will return with the ordinance for final action at the scheduled second reading.