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Council adopts tentative budget; MSD reports $10 million across city funds
Summary
Magna's accounting manager presented the 0.75 financial report showing approximately $10 million total across city funds with about $4 million unassigned; council approved the tentative budget (resolution R2026-28) after amending several admin line items.
Daniel Hoffman, accounting manager with the MSD, presented the city's 0.75 financial report and highlighted fund balances: "We literally have $10,000,000 Now," he said, breaking the total into a $5,000,000 Magna City fund, $2,500,000 for the Magna CRA, $2,400,000 in the Magna designated council fund and $86,000 in the Pleasant Green Cemetery fund. Hoffman said roughly $4,000,000 of the total is unassigned and available for council discretion; he flagged a forthcoming budget amendment for the cemetery fund (~$19,200) that would use ~$20,000 of that cemetery balance to cover higher-than-expected graveside costs.
Council discussed revenue sources (sales tax is the primary revenue stream), noted building-permit receipts trailed projections, and reviewed proposed cuts to the admin budget to reach a tentative total. Council member 13 moved to approve resolution R2026-28 setting the tentative budget; the motion was seconded and the council voted in favor. Staff said a public hearing and final budget adoption will occur at a future meeting.
