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Committee reviews 2025 budgets; mill-rate increase could approach $0.30 per $1,000
Summary
City staff presented the 2025 General Fund, Utility Fund and Capital Improvement Fund budgets; officials said a goal is to keep any mill-rate increase below $0.26 per $1,000 but adjustments tied to assessed values may raise that nearer $0.30; the schedule calls for further reviews Oct. 28 and Nov. 11 and a public hearing Nov. 25.
City staff presented an initial review of the 2025 General Fund, Utility Fund and Capital Improvement Fund budgets to the Joint Committee of the Whole.
City Administrator Sean Hutchison said the goal is to keep any mill-rate increase under $0.26 per $1,000 of assessed value, but adjustments to TID In and TID Out because of a higher assessed value are moving that projection closer to a $0.30 per $1,000 increase. The minutes present these as staff projections; no final mill-rate or dollar figures were adopted at this meeting.
The committee set a further detailed budget review for Oct. 28, a final review on Nov. 11 and scheduled the public hearing and final approval for Nov. 25. Hutchison also said the Budget Notice will appear in the newspaper in early November, staff will finalize capital budgets in October, and the water and sewer budgets will be reviewed at the Oct. 28 Committee meeting.
