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Council adopts FY2026 budget adjustment adding $1.15 million, including $751,000 donation for All Abilities Park
Summary
The council approved Budget Adjustment No. 8, increasing both revenues and expenditures by $1,149,276 to reflect donations (including a $751,000 Tap Foundation gift for All Abilities Park Phase 2) and grants; council adopted the resolution after a brief presentation by finance staff.
City finance staff presented Budget Adjustment No. 8 and council voted to adopt the related resolution.
Finance presenter Jim Cox said the adjustment increases revenues by $1,149,276 — bringing annual revenues to $351,300,000 — and increases expenditures by the same amount (bringing the annual expenditures total cited in the meeting to $414,200,000). Cox identified two major components: $766,155 in donations (he said $751,000 of that is a donation from the Tap Foundation earmarked for All Abilities Park Phase 2) and $355,343 in grants; a small $2,222 match transfer was noted for the grants fund. Cox characterized the changes as largely an accounting of gifts and grants and said most items are a wash from a current accounting perspective.
Councilors moved to adopt the resolution as presented and the motion carried. Council did not raise substantive questions about the items after the presentation.
What happens next: staff will proceed with the accounting adjustments shown in the adopted budget adjustment and, where required, seek state approval as noted in the resolution language presented to council.
Attribution: Quotes and figures are drawn from Jim Cox’s presentation at the meeting minutes; resolution language and the exact resolution number as read in the meeting are recorded in the meeting record.
