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Takoma Park projects $2.5M FY27 general fund deficit in early forecast; staff outlines options
Summary
City staff presented an early FY27 general‑fund forecast projecting about a $2.5 million deficit (expenditures ≈$35.4M vs. revenue ≈$32.9M), cited drivers (salary/fringe increases, ARPA transitions, capital timing) and outlined options including use/retention of assigned reserves, spending adjustments, or revenue changes.
City Manager and finance staff presented an early‑stage FY27 general‑fund forecast to guide council priorities ahead of formal budget development. Staff cautioned the presentation was not a proposed budget and that numbers will evolve as staff collects more information.
The forecast projected general fund revenue of approximately $32.9 million (about a 2.9% increase over FY26) and expenditures around $35.4 million (about a 3.6% increase), yielding a preliminary deficit near $2.5 million. Key assumptions included a 4.5% increase in property tax revenue…
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