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City lays out $393.5M proposed budget and projected property‑tax impacts
Summary
Finance staff presented the 2026–27 budget roadmap: proposed revenues of $325,000,000, proposed expenditures of $393,500,000 (a $68,000,000 deficit to be covered from fund balance), and an estimated levy of about $54.1M; staff detailed project funding, FTE additions and a phased police records management implementation.
Finance staff reviewed the proposed 2026–27 budget roadmap, reporting proposed revenues of $325,000,000 and proposed expenditures of $393,500,000, leaving an estimated $68,000,000 deficit to be covered from fund balance. Staff said estimated beginning fund balance is roughly $197,000,000 and highlighted reserves for capital, rate stabilization and debt service.
The presentation included a modeled property‑tax impact: staff reported an estimated levy of about $54,098,846 and gave examples of homeowner impacts — for instance, a $450,000 home would face an estimated $150 per year (about $13/month) increase under the proposed package. Staff reviewed funding sources for new personnel requests and said some items would be phased in across years to minimize one‑year general fund impacts.
