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Board approves FY 2026-27 and 2027-28 draft budgets; investment income projection trimmed
Summary
The Board approved the two-year draft budget package; staff noted a revision reducing projected investment income by about $1.5 million across the two years because of planned capital expenditures.
Finance Manager John O'Brien presented the draft budgets for Fiscal Years 2026-27 and 2027-28. O'Brien told the Board the memorandum summarizing major financial categories and assumptions was substantially unchanged from the prior presentation, with a highlighted revision: a projected reduction of approximately $1.5 million in investment income across the two budget years related to anticipated capital spending.
Director Eric Chappell moved and Vice President John Wurm seconded the motion to approve the draft budgets; the Board carried the motion unanimously. The draft budgets will guide fiscal planning and capital project funding in the coming biennium.
