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Smithfield adopts $29.3 million FY2027 budget, keeps property tax unchanged
Summary
The Smithfield City Council adopted the Fiscal Year 2027 budget on June 24, 2026, approving $29.3 million in total expenses across funds while avoiding a property tax increase and funding major water and stormwater projects from reserves.
The Smithfield City Council on June 24 adopted the Fiscal Year 2027 budget, approving expenses across all funds of $29,303,602 and a General Fund budget of $14,272,782 while keeping property tax rates unchanged.
City Manager Justin Lewis told the council that total projected revenue for all funds is $24,396,651 and that the city has been saving cash to pay for major infrastructure projects rather than issuing bonds. The adopted budget funds ongoing waterline replacements, a 3-million-gallon water tank whose concrete floor pour is scheduled imminently, and stormwater improvements, with much of the work financed from city reserves.
Why it matters: the budget frames the city’s spending priorities for July 1, 2026, through June 30, 2027, and funds multi-year capital projects the council said are critical to support growth without increasing property taxes.
Councilmember Jay Downs praised staff work on the budget, calling it “a testament to their hard work and professionalism.” The council also amended the proposed equipment purchases for the golf course, removing a sweeper and adding a rough mower and clubhouse repairs as part of the adopted motion.
During discussion the council noted that the city is holding restricted revenues for specific uses, including Class C road funds and RTIF funds. Mr. Lewis highlighted stronger-than-projected revenues this year in sales tax, RAPZ funds, Rec Center fees and golf revenues; he also reported several grants and donations that increased FY2026 receipts.
Councilmember John Engler moved to adopt Resolution 2026-07, with an amendment removing the golf-course sweeper and adding a rough mower and clubhouse repairs; Councilmember Chris Olsen seconded. The motion passed 5-0.
Earlier in the meeting the council adopted Resolution 2026-06, amending the FY2026 budget to transfer funds into the General Capital Improvement Fund and to finalize several projects. That motion passed unanimously as well.
The council said it will continue to seek grant funding for design and engineering on future park and trail projects and will monitor staffing and capital needs as the city grows. The council adjourned at 8:05 p.m.
