Providence adopts FY2027 budgets, certified tax rate and FY2026 adjustment

Providence staff presented the city's FY2027 final budgets and fiscal-year-end adjustments at the June 17 council meeting. Finance staff summarized that overall revenues exceeded projections in several funds and that, after routine expenditures and a transfer of $388,000 into capital projects, the general fund balances. Council adopted the FY2026 budget adjustment (Resolution 06-2026) and then moved to adopt the certified tax rate and FY2027 budgets.

Ryan, the finance staffer who presented the numbers, said the general fund received roughly $68,000 in greater-than-projected revenue and that water and sewer funds also finished the year with net positive results; he noted the garbage fund experienced higher depreciation and modest overrun but remained profitable. On the certified tax rate he explained, "If we request the property-tax revenue of the amount of the previous year then that is the certified rate," meaning the city is not asking residents for a property-tax increase in total citywide dollars.

Council voted to adopt the certified tax rate (indicating no citywide property-tax increase) and approved Ordinance 09-2026 adopting the FY2027 final budgets for all funds, which incorporate a compensation schedule and a five-year outlook. The council also approved Resolution 06-2026 (FY2026 budget adjustment) to move the additional revenues into capital projects.

The actions were unanimous by voice vote where recorded. Staff said the budget package preserves service levels and funds planned capital projects; it also removes a tentative property-tax increase that had been considered earlier in the budget process. Next steps: staff will implement the transfers and publish the approved FY2027 budget documents with links to the five-year projections.

Votes at a glance: Resolution 06-2026 (FY2026 adjustment) — passed; Resolution 05-2026 (certified tax rate) — passed; Ordinance 09-2026 (FY2027 final budgets) — passed.