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Morgantown staff present cautious FY2026-27 budget after $3.2M carryover recalculation
Summary
Finance Director John Ferguson presented a proposed FY2026-27 budget that trims reliance on one-time carryovers after a $3.2 million carryover recalculation, holds property-tax rates steady, freezes 16 positions and schedules a 0% cost-of-living increase while funding targeted capital projects and planning further refinements at the March readings.
Morgantown— Finance Director John Ferguson on Tuesday presented the city's proposed fiscal year 2026-27 budget to the Committee of the Whole, saying a recent accounting correction reduced estimated year-end carryover and led staff to limit one-time spending while sustaining key services.
Ferguson told council that a methodological correction to carryover accounting recalibrated the prior estimate of almost $6,000,000 to an "actual 2,720,000.00," a variance of about $3,200,000, and added that "this adjustment was not the result of overspending or revenue underperformance." He said staff responded with targeted expenditure controls, vacancy freezes and limited use of the fiscal-stabilization fund.
The proposed…
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