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Council hears preliminary FY26 budget: staff flags revenue gains, $104K base gap and options
Summary
Staff presented an early FY26 budget preview showing projected general-fund revenues of about $13.18 million, a conservative $965,000 revenue increase estimate, a $104,000 gap for base plus maintained services (rising to $503,000 if new service requests are included), and options including modifying the over-65 exemption, a $5/month stormwater fee (projected ~$300,000/year), and redistributing certain sales-tax funds.
Finance staff presented a preliminary look at the townbudget for FY26, emphasizing a conservative approach while noting several revenue opportunities and pending uncertainties. Staff said the town currently projects $13.18 million in revenues and identified a $104,000 gap between projected revenues and base plus maintained service costs; adding new service requests would widen that gap to about $503,000.
Staff walked through major revenue categories: property tax (the largest source), sales tax, franchise fees and charges for services (including police contracts with Harvest…
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