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Finance Committee recommends forwarding 2026–27 budget with revised COLA and pay-study implementation
Summary
The Finance Committee voted to recommend the FY2026–27 annual budget and tax-rate ordinance to the full board after staff reported modest revenue gains, a revised COLA schedule (2.4% in July and a 0.5% increase in February), lower-than-expected pay-study reclassification costs and vacancy-based savings that closed a roughly $700,000 shortfall.
The Finance Committee voted to forward Ordinance 2026-07 — the annual budget and tax-rate ordinance for July 1, 2026–June 30, 2027 — to the full Board with a positive recommendation after staff summarized changes and answered members’ questions.
Finance Director Tamara Ingersoll told the committee the largest changes since the budget workshop were slightly higher revenue estimates for sales and property tax and a reforecast of pay-study and COLA timing. "The COLA has been updated from 2.8% implemented in October to 2.4% effective the first payroll in July, with an additional half-percent in the second payroll in February," Ingersoll said, and staff estimated the…
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