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Hamilton Township adopts 2026 tax budget, sets six-month carryover policy ahead of bond review for public works facility
Summary
Trustees approved the 2026 tax budget and a fund-balance policy to retain at least six months of operating expenses; staff said Moody's will review township finances as part of bond preparations for a new public works facility.
Hamilton Township trustees voted to adopt the township's 2026 tax budget and approved a fund-balance policy intended to keep a minimum of six months of operating expenses in reserve as officials prepare to issue debt for a new public works facility.
During a presentation, Mister Wright, who led the budget overview, said the tax budget is an annual estimate required by the state and described the township's revenue assumptions, differences between inside and outside millage and projected uses for remaining ARPA funds. Wright said the township will submit the tax budget to the county auditor and later present a fuller 2026 budget in the fall. "A tax budget ... is an estimate," Wright said, urging conservative revenue forecasts.
Wright also described preparations for borrowing to build the public works facility, saying township staff have engaged bond counsel, an underwriter and a municipal adviser and that Moody's will perform a credit review to help secure the lowest possible interest rate. "The better your credit rating, the lower your interest," he said.
Trustees voted to adopt Resolution 25-0618a, the formal motion adopting the 2026 annual tax budget, and then approved a written fund-balance policy to codify the practice of carrying over reserves equal to at least six months of operating expenses. Board members who recorded votes are listed in the minutes as Mister Sousa and Mister Razi; the motions were seconded and adopted.
The actions keep the township on the schedule for the county's August revenue certification and position officials to proceed with bond marketing in the coming weeks. Officials said the more detailed 2026 budget will be developed through fall work sessions and is expected to return to trustees for a final vote in November.
The board moved into an executive session later in the meeting; no legislation was expected from the executive session, according to the motion announcing the session.
