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Richmond adopts FY2027 budget and approves FY2026 amendments
Summary
The council adopted the FY2027 budget and approved amendments closing FY2026, including a $236,250 transfer to Capital Projects, continued no change to the property tax rate, and funding plans for RAPZ-funded pickleball courts and the Cub River Sports Complex.
The Richmond City Council on June 16 adopted Resolution 2026-06, the Fiscal Year 2027 budget, and adopted Resolution 2026-05, amending Fiscal Year 2026 accounts to close the year.
City Recorder Justin B. Lewis highlighted FY2026 adjustments, including $301,722 in General Fund changes and a $236,250 transfer to the Capital Projects Fund designed to meet unreserved fund-balance requirements. He noted revenue upticks in franchise tax, local road tax, Class C road funds and interest earnings. The council adopted Resolution 2026-05 to close FY2026.
For FY2027, the proposed General Fund revenue is $2,223,671. Lewis explained enterprise fund notes, including a negative opening balance in the water fund due to test well work and a typical negative start in the sewer fund as depreciation is not fully funded. The budget includes funding for the Park Bench (senior center) programming, the Cub River Sports Complex shared costs, and plans for pickleball courts funded by RAPZ tax. The council held a public hearing and adopted the FY2027 budget 4-0.
Council members reiterated no change to the property tax rate for the new fiscal year and noted the City will continue to monitor enterprise fund balances and capital project timing.
