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Star Valley Ranch council updates FY2026–27 budget model; reserves higher than projected
Summary
Councilman Bitter reported the budget model has been updated with February actuals; general fund receipts stand at 77% with expenses at 61%, reserves total $4.3 million and the water fund shows a $200,000 positive variance due largely to a $175,000 grant.
Councilman Bitter told the council on March 10 that the FY2026–27 budget model has been fully loaded with February actuals and that the complete budget package, including capital requests and salary adjustments, will be distributed to council members next Monday for review ahead of the workshop.
Town Treasurer Loretta Mason reported general fund receipts at 77% of budgeted revenue and general fund spending at 61% of budgeted expenses; she said water-side receipts are 77% and expenses 64%. Combined cash reserves total $4.3 million, approximately $800,000 higher than budgeted due to delayed capital expenditures. Councilman Bitter noted the general fund is about $51,000 below budget primarily because of fifth-penny tax reductions and lower direct distributions, while the water fund is about $200,000 above budget largely because of a $175,000 grant and additional tap-on fees.
Councilman Merrill expressed concern that earlier budget discussions did not occur as in comparable municipalities and urged prioritization of expensive capital requests; Bitter said the upcoming workshop will focus on prioritizing capital and that additional budget sessions could be scheduled if necessary. The Finance Advisory Board will receive the budget for review before the next workshop; its meeting is scheduled for March 28.
Next steps: councilmembers will receive the full budget, Finance Advisory Board will review it before the workshop, and the council will prioritize capital at the workshop before the first reading of the budget.
