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Cave Creek staff present $80 million FY27 budget with $44 million CIP, debt plan for water and open‑space
Summary
Town staff on Wednesday presented a preliminary fiscal 2027 budget that holds department FTEs steady, proposes roughly $80 million in appropriations and a $44 million capital improvement plan driven by $12 million for new water resources and a $16 million placeholder for a 4,000‑acre open‑space acquisition. Council pressed staff on utility subsidies, debt timing and contingencies.
Staff opened the work session by outlining the goals and legal framework for the town budget, telling council that “no expenditure can be made for a purpose not authorized in the adopted budget,” and walking members through the budget book, supplemental requests and the five‑year capital improvement plan.
The preliminary FY27 proposal uses FY26 adopted amounts as the baseline and shows total resources available of about $85 million with estimated expenditures around $80 million, leaving an estimated ending fund balance of roughly $17.5 million. Staff said the proposed budget carries forward an estimated $38 million beginning balance into FY27 and includes approximately…
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