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City projects 5.9% revenue growth; staff and council debate holding 0–2 pennies for contingency or tax relief
Summary
City finance staff projected 5.9% general fund tax revenue growth for FY26 (about $5.9M), split 50/50 under the revenue‑share policy would yield ~$2.95M to schools; cost drivers raise a $2.94M need on the general government side and the combined picture creates an approximate $2.0M shortfall, prompting council debate over preserving 0–2 pennies of the tax rate for contingency or rate reduction.
Karen Bauer, the city’s director of finance, presented the city’s FY26 revenue forecast to the joint meeting, saying general fund tax revenues are projected to grow 5.9, which the staff estimates equals about $5.9 million in new revenue. Bauer proposed continuing the city’s long‑standing 50/50 split of new development revenue, which would allocate roughly $2.95 million to schools and $2.95 million to the general government.
Bauer listed key assumptions behind the forecast: assessed value growth (city…
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