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Finance Committee recommends proposed 2026 budget after third‑quarter update showing revenue gains
Summary
Finance staff reported year‑to‑date revenue gains across multiple funds — general fund $506,000 higher year‑to‑date, tourism fund up 12%, utility cash receipts $9.7 million — and the committee voted to recommend the proposed 2026 budget to the Board of Aldermen with staff to submit a memorandum documenting the recommendation.
ALLISON, finance staff, presented the third‑quarter financial update and walked the committee through fund‑level performance and the assumptions behind the proposed 2026 budget.
Allison said general fund revenues are $506,000 greater year to date compared with the same period last year (excluding transfers), with tax and franchise fee collections up about 3%. "75% of the year is complete, and we've collected 77% of total budgeted revenues for the year and expended 67% of budgeted expenses," she said.
On the tourism fund, Allison reported year‑to‑date revenues are up 12%. She highlighted that theater collections are up 34% over the prior year while…
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