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Pinetop-Lakeside council adopts $35.5 million tentative FY2026–27 budget
Summary
Council adopted Resolution No. 26-1820 to approve the town’s tentative FY2026–27 budget totaling $35.5 million in expenditures, including a 2% COLA, maintaining 55 FTEs and a projected general fund balance of about $1.8 million; final adoption is scheduled after a second hearing in July.
The Pinetop-Lakeside Town Council voted unanimously to adopt the town’s tentative FY2026–27 budget, approving Resolution No. 26-1820 after a staff presentation by Finance Director Gabe.
Gabe told the council the tentative budget shows $35.5 million in total expenditures across all funds with available resources of about $39 million. The proposal includes a 2% cost-of-living adjustment for staff and maintains staffing at 55 full-time-equivalent positions. Gabe also identified a projected general-fund year-end balance of approximately $1.8 million and noted staff planned to place roughly $360,000 of the general fund into contingency/reserve funding to strengthen long-term stability.
Gabe provided context from the May financial report: year-to-date general-fund revenue of about $6.7 million with transaction-privilege-tax (TPT) collections of roughly $4.7 million; he said TPT collections were down approximately 4% year-over-year and May collections were down about 8.9% compared with the prior May, driven by declines in construction and commercial rentals while residential and restaurant/bar sales were up.
Council members had no further questions during the public hearing; the council moved, seconded, and unanimously approved the tentative budget and authorized publication of required notices and a future final-adoption hearing at the council’s second July meeting.
The tentative adoption allows staff to publish the budget statements and schedules and to schedule a final public hearing and adoption. Any line-item changes or final adoption will be considered in the council’s subsequent public hearing.
