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Ashland treasurer flags insurance increases, delinquent utilities and Callaway Bank vacancy ahead of budget workshops
Summary
The treasurer presented the budget timetable and warned of a projected 30% increase in property/casualty insurance, about $40,000 in delinquent utility accounts and a $38,400 annual revenue loss after Callaway Bank vacated leased space; staff presented options for the vacant space and scheduled budget workshops.
The city's treasurer presented the budget preparation schedule and highlighted fiscal pressures for fiscal year 2027 at the Jan. 6 Board of Aldermen meeting.
The treasurer said the city is scheduling budget workshops (6 p.m. on Feb. 3, Feb. 17, March 3 and March 17) and aims to finalize and close fiscal year 2026 and adopt the fiscal 2027 budget on April 7. He warned that the city's property, casualty and liability insurance premiums are expected to increase about 30% and that health insurance premiums were quoted at roughly 9% after a broker negotiated a lower option through a multi-employer arrangement.
On revenue pressure, the treasurer reported the city currently has $40,000 in delinquent utility payments, mostly tied to rental properties, and the community will lose roughly $38,400 in annual revenue because Callaway Bank vacated half of the leased space in the city building. Staff outlined three short-term options for the vacated space: advertise the whole area for lease, advertise only part of the space and relocate some staff, or repurpose the area for expanded city operations such as utility billing and permitting.
The treasurer said staff are reviewing prosecutor costs and ticket revenues to ensure court-related revenue offsets are sustainable and that a budget deep-dive will continue as the city completes the budget process.
What happens next: officials will continue data analysis on ticket revenues versus prosecutor costs, evaluate leasing options for the vacated bank space and bring budget recommendations to upcoming workshops.
