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Waterford council reviews preliminary FY2026–27 budget, hears staff warnings on reserves and utility rate hikes
Summary
City staff presented a preliminary FY2026–27 budget showing a $295,677 general-fund deficit, projected reserves of about $3.2 million (58%), a planned 25% water rate increase in March 2027 and multi-year wastewater increases; council gave direction to retain parks funding and to workshop project prioritization.
City staff presented the preliminary FY2026–27 budget at a council workshop, saying the general fund is budgeted to end the year with a $295,677 deficit and projected reserves of about $3.2 million, representing roughly a 58% reserve balance.
The presentation, given by Miss Hamilla, outlined revenues of about $5.3 million and planned capital and operating expenditures of about $5.6 million that together produce the projected draw on reserves. "We have budgeted 276,800 in capital items from the general fund reserves to be spent," Miss Hamilla said, and noted operating expenses are growing faster than revenues.
Staff highlighted major…
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