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City projects FY26 revenue shortfall and proposes $24M in near‑term spending reductions
Summary
City finance staff reported first‑quarter general fund revenues ~1.5% below prior year and modeled a low‑revenue scenario that produces a projected FY26 deficit; staff proposed nearly $24M in immediate spending reductions (hiring freezes, project delays, fee adjustments) and said an additional ~$10M may be needed if revenues do not improve.
Anna Rosenberry, assistant city manager and chief financial officer, briefed council on first‑quarter fiscal performance and a stress scenario for FY26. Rosenberry said general fund collections for July–September were roughly 1.5% lower than the prior year and below the adopted budget growth assumption, prompting a re‑projection exercise.
Staff presented a package of proposed spending…
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