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Finance presents FY2027 budget highlights; late Five Flags update trims recommended tax rate
Summary
Finance staff reviewed FY2027 budget tools and projections, proposed modest utility fee increases, and reported a late reduction in the Five Flags subsidy request that reduces the recommended city tax rate from $10.16 to $10.13 per $1,000 assessed value; staff forecast general fund reserves at ~27% and emphasized the creation of a state‑legislative anticipation reserve.
The Finance Department presented its FY2027 budget request Thursday, walking council through online engagement tools, proposed rate adjustments and updated assumptions used to estimate tax and utility impacts.
Jennifer Larson, chief financial officer, summarized the city’s budget responsibilities for an approximately $265 million budget and described public engagement tools available to residents, including an online property‑tax impact estimator that lets homeowners enter assessed values to see changes by taxing body.
Larson proposed modest utility changes for a…
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