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Troy finance workshop: 2026 income tax forecast flat as expenses climb; $4.2M drop in multi‑fund balance
Summary
Council staff told the finance committee that 2026 income-tax receipts are expected to be flat while general-fund recommended spending rises about 9.9% driven by wages, benefits and capital project carryovers; the city's aggregated fund balance projection fell by $4.2 million from last year’s estimate.
Speaker 1 (Unidentified Presenter) presented the proposed 2026 budget and a five-year forecast, saying income-tax receipts are expected to remain essentially flat and that the auditor’s conservative revenue assumptions will guide budgeting.
The presenter said withholding — the largest income-tax component — is increasing but net-profit collections remain volatile, and a prior state-level gateway backlog resolved with Representative Newman will not produce the carryforward growth previously expected. He said that conservatism from the auditor’s office is…
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