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Council approves fiscal 2026 year-end budget amendments; staff says offsets avoid use of fund balance
Summary
City finance staff described $875,000 in general-fund amendments — including a $625,000 settlement and $250,000 recreation costs — plus CDBG and other reimbursements; council unanimously approved the amendments after staff said offsetting revenues cover the increases.
Troy City Council approved the fiscal 2026 year-end budget amendments on June 29 after Chief Financial Officer Rob Malzak explained the largest items and confirmed offsetting revenues.
Malzak said the package includes $875,000 of general-fund adjustments: a $625,000 settlement related to a home-builder case and about $250,000 of recreation-related costs (TFAC water and electrical work and other items). He said the city identified offsetting revenues — including a larger-than-budgeted state payment to the Local Community Stabilization Authority (LCSA) and stronger interest earnings — so the amendment does not draw on the general-fund balance.
Malzak also noted a CDBG-funded Bolin Park expense that will be 100% federally reimbursed and a $10,000 snow-removal charge that Amtrak will reimburse. Council members thanked staff for locating offsets and voted to approve the amendment package.
What happens next: staff will process the amendments and apply the reimbursed funds where appropriate to close the fiscal year in compliance with state budget law.
