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Cosmopolis projects modest revenue growth; staff recommends 1% property-tax increase
Summary
Staff presented preliminary general-fund revenue estimates showing about 3% growth year over year but flagged onetime items (school fees, an RCO grant) that inflated 2025 projections; staff recommended adopting a 1% property-tax increase to help sustain city operations.
Tara, the city's presenter on fiscal matters, opened Oct. 1 by saying preliminary estimates show general-fund revenues about 3% higher than last year but cautioned that some 2025 numbers reflect onetime receipts.
She told the workshop that projected 2025 revenue appears to be about $83,000 versus a budgeted $52,000, a variance she said is largely driven by a one-off $30,000 school permanent fee and an RCO grant of about $71,000 that will require a budget amendment. "So we're certainly not going to count on that continuing into next year," Tara said.
To help close operating needs, Tara said she "strongly" recommends the council adopt a 1% property-tax increase next year; she described the overall lift to the property-tax line as roughly $4,300 in additional revenue for the city. Staff also recommended conservative budgeting for interest income and cautioned against relying on high short-term interest receipts when setting recurring expenditures.
Council members and residents used the workshop format to ask clarifying questions about the presentation. Tara said the full mayor's preliminary budget, including revenues and expenses for all funds, will be presented at the next council meeting; the Oct. 1 session covered only general-fund revenue line items and was informational.
The presentation set the stage for upcoming budget work: staff will prepare the mayor's preliminary budget for council consideration at the next meeting and bring any required budget amendments (for grants or one-time receipts) forward for formal action.
