Mayor Cognedi told the City Council the proposed 2026 budget includes no tax increase and centers on maintaining city services while building a multi-year capital program. “There's no tax increase in this budget,” she said, and praised finance staff for managing interest earnings and operations.

The mayor highlighted the new, dedicated capital line that lets the administration show operating and capital investments side-by-side. She said that approach clarifies five-year department investments and cited notable transportation spending: $27 million already spent on street safety projects and $15 million proposed for streetscapes next year. On interest income she said the city posted $1,300,000 in 2024 and is projecting almost $1,000,000 in interest earnings for 2026.

Cognedi also raised a one-time real-estate opportunity: the city could purchase the adjacent Fidelity Building to add accessible first-floor public counters, expanded office space for code enforcement and clerical staff, 35 below-ground parking spaces, and space the police have proposed for a real-time crime center. She described the chance to buy the property as rare and urged the council to consider acting while the city has the financial means.

On housing and economic development, the mayor said the administration remains focused on housing affordability by encouraging new construction and rehabilitation and flagged an economic opportunity if Scranton is selected as a FIFA activation zone during next year’s World Cup, which she said could deliver tourism and morale benefits to the city and Lackawanna County.

The session concluded with the mayor turning the floor to public-safety chiefs for department-specific budget requests; no formal vote was taken at the hearing.