Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Budget staff presents FY2027 revenue model; sales tax projected up, property tax net declines due to debt service
Summary
City staff presented an early FY2027 revenue model showing all-funds revenues of $252.7M (down ~5.1%), a general fund forecast of $124.2M (down ~4.1%), sales tax forecast of $69.9M, and a projected drop in net property tax to the general fund mainly from higher assumed debt service tied to an upcoming bond. The Board will consider a proposed increase in the hotel/motel tax on Feb. 24.
City budget staff on Jan. 8 presented the initial revenue model that will guide the FY2027 recommended budget and the committee's upcoming departmental hearings. Skye Gerhardt, the management fellow, said the city is forecasting all-funds revenues of $252,700,000 for FY2027, down from $267,400,000 in FY2026, a year-over-year decrease staff attributed mostly to the end of ARPA and other one-time fund-balance uses.
"In fiscal year 2027, we are forecasting $252,700,000 as compared to $267,400,000 in FY 2026," Skye said, and noted the January estimates are intentionally conservative and will be revised as more actuals arrive.
Staff projected general fund revenues at $124.2 million for FY2027 versus $129.6 million in FY2026 (a decrease of about $5.4 million). Skye…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
