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Waterford approves midyear budget adjustments, adds capital projects and flags water fund covenant shortfall
Summary
The council approved Resolution 2026-18 to adopt midyear adjustments for FY2025-26, increasing projected revenues by $118,431 (largely an insurance refund) and expenditures by $171,752, while noting a bond covenant shortfall in water funds and several capital projects including pickleball courts and demolition of the old police facility.
The Waterford City Council unanimously approved midyear budget adjustments for fiscal year 2025–26, hearing a line-by-line summary from Finance Director Miss Embia and asking staff to incorporate council priorities as the draft next-year budget is prepared.
Miss Embia told the council the general fund’s beginning balance was revised upward after the prior year closed, producing an adjusted opening balance of approximately $3.659 million. The midyear changes increase projected revenues by $118,431…
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