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First‑quarter FY26 report: Lexington remains near budget but debt service front‑loaded
Summary
City staff told council that FY26 first‑quarter revenues are tracking close to budget; property taxes are due Dec. 5, debt service of roughly $1.5 million was paid in Q1, federal school grant reimbursements will appear later, and staff proposed an interfund arrangement for equipment funded from utilities.
City finance staff presented Lexington's FY26 first‑quarter financial report and told council that overall results are tracking near budget but that timing differences make the second quarter more informative.
"It's really too early in the year to make any bold statements about how we're going to end up, but the first quarter is tracking along as we normally do in the first quarter and pretty close to budget," said Jen Bell, who reviewed revenue and expenditure items for the general fund, school fund, stormwater fund, utilities and…
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