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Buckeye council adopts $765.4 million tentative FY2027 budget cap, sets hearing dates
Summary
Council approved Resolution 51-26 adopting a tentative FY2027 budget with a $765.4 million expenditure cap including $263.2 million in carryovers; staff noted a proposed new Prop 207 fund for marijuana revenue and scheduled truth-in-taxation hearings in June.
The Buckeye City Council on Monday approved Resolution 51-26 to adopt the tentative budget that sets the city's maximum expenditure limit for fiscal year 2027.
Keith, the staff presenter, said the city manager's recommended operating budget is $51.7 million and the tentative budget includes carryover amounts totaling about $263.2 million, yielding an overall tentative budget of approximately $765.4 million. "The tentative budget sets the maximum expenditure limit. This is by state statute. It cannot be increased after this but it could be decreased," Keith said.
Staff told council the administration created a separate fund for Prop 207 (marijuana) receipts to increase transparency; those revenues previously flowed directly into the general fund. Staff also noted an adjustment moving $4 million in one-time costs from payroll to operating and described carryovers tied largely to capital projects and developer reimbursements.
Council members asked about population estimates and projected revenue. Staff said the city's recent estimate rose from about 114,000 to roughly 120,000 (with ongoing updates possibly pushing current estimates into the lower 130,000s) and that the change could mean roughly $2 million in additional revenue, pending final figures.
The council approved the tentative budget by voice vote. Staff said a truth-in-taxation hearing will be held on June 2 and final budget and property tax levy adoption is scheduled for June 16.
No roll-call tallies were provided in the transcript for the recorded voice vote.
