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Colorado Springs officials present 2026 budget with $11 million revenue gap, reserves as buffer
Summary
Finance director Sherry McDaniel told City Council that the proposed 2026 General Fund is $427.3 million, driven by sales-tax reliance and a $11 million revenue decrease from 2025; city leaders discussed using reserves, conservative forecasting, and a two‑week markup schedule before ordinance votes.
Sherry McDaniel, the City of Colorado Springs Chief Financial Officer, told the council on Oct. 15 that the proposed 2026 General Fund budget before council adjustments is $427.3 million and that the city faces a projected $11 million decrease in General Fund revenue compared with the 2025 budget.
McDaniel said sales and use tax remains the largest single revenue source, representing about 59% of General Fund revenue for 2026, while property tax is roughly 6% and utility surplus about 14%. "Sales tax is, for 2026, 59% of the general fund revenue budget," she said. The administration’s forecast shows the sales-tax budget moving from the original 2025 budget of $261,500,000 to a 2026 budgeted sales-tax figure of about $251.7 million, a…
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