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Fort Thomas finance review holds tax rate, advances schedule for public hearing and June first reading
Summary
City staff presented multiple FY26–27 budget amendments across general, CBD, debt service, health insurance, KOT and waste-fee funds while confirming a public hearing before May council and a tentative first reading the first Monday in June; no change to the tax rate was proposed.
City finance staff presented proposed amendments across several funds during a Fort Thomas finance review and said the revised plan is not predicated on a tax increase.
“Looking at the projected numbers, this is not based on a tax increase,” a councilmember said during the review. Staff confirmed the draft holds the current tax rate while recognizing assessment changes could affect individual bills.
The package includes targeted capital carryovers and adjustments: $211,000 to finish the tennis courts and a carryover of Midway Streetscape costs into FY 26–27. Staff also proposed minor utility increases for the community center and several department-level adjustments to correct where multi-site utility bills are charged.
On timing, staff said the city will hold a public hearing before the May council meeting and tentatively schedule a first reading for the first Monday in June, allowing council time to hear citizen feedback and finalize numbers.
Other fund-level changes outlined include amending beginning fund balances in the CBD and debt service funds to align with the June 30, 2025 audit, adjusting health-insurance projections downward to $1,300,000 based on recent claims history, and requesting a $170,000 transfer from the general fund to cover increased waste-collection costs tied to the Rumpky contract.
Staff noted several amounts will be refined as billing data are reconciled across departments and said they will circulate a finalized draft and answers to outstanding questions ahead of the public hearing.
