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Hudson reviews preliminary 2026–2030 five‑year plan; staff stresses conservative revenue assumptions after major employer loss
Summary
City finance staff reviewed assumptions for the preliminary 2026–2030 five‑year plan, including a projected 3.7% decrease in income‑tax revenue, a 3% COLA for 2026 and a 10% projection for health‑insurance costs. Staff moved several connectivity projects to unfunded status and identified timing changes for specific capital items.
City finance staff and managers presented a preliminary 2026–2030 five‑year plan at the Oct. 28 workshop that reflects conservative revenue assumptions after the loss of a major employer and several targeted changes to capital and personnel timing.
Margaret (city finance staff) reviewed the principal assumptions: the city’s income tax remains at 2% with a full credit; staff projected a 3.7% decrease in income-tax receipts for the near term due to the employer loss and budgeted a conservative 2.5% growth in later years. Staff proposed a 3% cost-of-living adjustment for 2026 (matching current union contracts), a 10% assumption for…
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