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Council holds first reading of 2025 budget, flags potential adjustments if ballot measure fails
Summary
City staff presented the proposed 2025 annual appropriation ordinance, highlighting a projected 7% revenue increase, major lake dredge capital spending financed by SRF loan, and transfer of reserves; council carried the first reading and scheduled second reading for Nov. 18 while reserving the option for a follow-up work session if a ballot measure result requires budget changes.
City finance staff presented the first reading of the 2025 annual appropriation ordinance, offering highlights including an estimated 7% revenue increase (~$1.5 million), property-tax and sales-tax composition, and a proposed $36.4 million in capital improvements driven largely by the Lake Mitchell dredge and jetty projects.
Staff reported property-tax increases around 4.59% reflecting CPI adjustments and projected growth; sales tax comprised the largest share of tax revenue. The Lake Mitchell dredge appears as a major outlay (~$21.5 million) funded in part by an SRF loan. The presentation also noted anticipated transfers from designated reserves to cover lake work and other capital projects, plus a continuing flat employee headcount.
Council discussed contingency planning if a related ballot measure (referenced as "I'm 28") fails and whether to earmark up to $6 million to cover possible revenue loss; staff said final adjustments could be made before the second reading on Nov. 18 and recommended a follow-up work session to fine-tune cuts if necessary. Council carried the first reading by voice vote and set the next reading and adoption date.
What happens next: Second reading and adoption are scheduled for Nov. 18; council and staff will reconvene for any necessary budget adjustments depending on election outcomes and to set contingency designations.
