Council advances FY26 budget amendment on first reading and accepts six‑month financial report

An unidentified staff member presented proposed amendments to the fiscal year 2026 budget and the city’s financial report for the period July 1–Dec. 31, 2025, at the Feb. 19 Cookeville City Council meeting.

The presenter said the general fund revenues are increasing by $416,000 while expenditures increase by $537,660, producing a net decrease in fund balance of about $121,660. The presenter also described adjustments to the tree board fund (revenues +$3,000; expenditures +$6,000), the quality of life fund (revenues +$11,330; expenditures +$52,315), the general improvement bond fund (expenditures +$330,600), and the transportation fund (increased project expenditures totaling $648,500 for Henley Drive and engineering for the Interstate Drive/Jefferson Avenue turn lane). The employee insurance fund reflects increased premiums (vision and health) totaling $73,200.

The presenter summarized the city’s six‑month financials: the general fund is at approximately 50% of budget (local taxes are the largest revenue stream), the city budgeted $20,291,300 for the general fund and had collected $10,760,450 (about 53% at Dec. 31), and property tax collections were at 42.8% with an aggregate of $12,812,199 at Dec. 31. The general improvement bond fund spending was reported at about 30% of budget; staff said bond proceeds of $10,525,000 were issued this year.

Vice Mayor Aldridge moved to advance the FY26 budget amendment on first reading and to accept the six‑month financial report; motions were seconded and the council voted 4–0 on both items. The presenter recommended acceptance of the financial report and answered council questions about timing and specific fund percentages.

The council’s votes record acceptance of the financial report and advancement of the budget amendment to subsequent consideration; final budget adoption would follow the ordinance process.