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Finance staff: FY26 projections cautious; sales and alcohol taxes will be watched
Summary
Staff said the general fund is at its annual low in September and should rebound as property taxes are collected; staff plans conservative sales-tax projections and will monitor mixed drink and beer taxes as early economic indicators.
Committee members received a FY26 financial update in which staff outlined near-term revenue expectations and risks.
"Your general fund is at your lowest point of the year for September. Property tax bills have went out. So you'll start seeing those property taxes come in," said Miss Holden. She added that staff are preparing conservative sales-tax projections because of the ongoing government shutdown and local factory layoffs.
Holden also flagged mixed drink and beer tax receipts as an "early economic indicator," saying the city will watch those collections as an early signal of economic downturn. Committee members asked about the drop in the fund balance shown on the dashboard; Holden and the chair explained that September is typically the low point and the balance should increase as property-tax collections arrive.
The update emphasized monitoring rather than new policy actions. Staff said they will continue monthly tracking and return to the committee with updated projections and any recommended adjustments to the budget plan.
