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Richmond administration presents modified 2026 budget, moves purchasing oversight for >$5,000 to council
Summary
City Controller Tracy told the Committee of the Whole on Oct. 15 that the administration’s modified 2026 budget balances most funds, sets a 15% cash-reserve goal, and transfers all general-fund line items over $5,000 into a new council review process that requires a resolution before purchase orders are issued.
Tracy, the city controller, presented a modified 2026 budget to the Committee of the Whole on Oct. 15, saying the administration had balanced 34 of the 39 funds under review and that the team aimed for a 15% cash reserve in each fund. "This collaboration makes it possible for me to stand here before you tonight representing the city team and presenting a modified 2026 budget proposal," Tracy said.
The administration described three budget types it used in planning—"funded," "balanced," and "sustainable"—and emphasized that sustainability, not one-year fixes, is the goal. Tracy said the plan…
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