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Council adopts 2027 tax budget after finance presentation
Summary
After a presentation by Mr. Phillips on reserves, fund outlooks and capital-timing impacts, the council adopted the city's 2027 tax budget by roll call at the meeting. The presentation noted a $1.7 million beginning general fund balance and projected 2027 expenditure shifts tied to capital projects.
Mr. Phillips presented the proposed 2027 municipal tax budget and explained the statutory process under the city charter and the Ohio Revised Code, saying the council must submit a council-approved tax budget to the county by July 15.
"I'm happy to present the 2027 municipal tax budget," Mr. Phillips said, and he walked council through comparative expenditure statements for fiscal 2024 and 2025 and estimated 2026 results. He told the council the estimated beginning general fund balance for 2027 is just over $1,700,000, equal to the city policy reserve of 25% of annual general fund expenditures, and that excess funds above that threshold are typically reallocated to capital or other projects.
Mr. Phillips flagged several fund-specific issues: an anticipated reduction in the boat basin fund balance in 2026 into 2027 because of limited revenue and repairs; an increase in the fire fund balance due to a recently passed fire levy; and a stormwater fund operating at a deficit that will require city subsidy for operations and capital improvements. He also said the administration is not budgeting higher total general fund revenue for 2027, expects income-tax receipts to level off, and projects a 3.25% personnel-cost increase with health-care and other operating cost increases of roughly 3% and 3'to'5% respectively.
On expenditures, Mr. Phillips told the council the total estimated 2027 expenses show a significant decrease from 2026 appropriations because the city anticipates major capital spending in 2026 (including the US Route 6 roundabout, a water tower project, South Main Street streetscape and seawall work) and that timing of project funding will change capital budget expectations for 2027.
After a brief clarification exchange about how the fire-levy line is presented in the revenue tables, a council member moved to adopt the 2027 annual tax budget "as prepared and received." The motion passed on a roll-call vote.
What happens next: the city will submit the council-approved tax budget to the county auditor as required; the county will use the submission to prepare the certificate of estimated resources and property-tax collection estimates for certification in October.
Notes: The budget presentation is archived on the city's website finance section, according to Mr. Phillips.
