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Council adopts FY2027 budget; city expects about $16.3 million in revenue
Summary
Magna’s proposed FY2027 budget was presented and adopted. Staff said the city expects approximately $16.3 million in revenue next year, primarily from sales tax; council asked clarifying questions about line items and confirmed updated MSD-related columns.
Finance staff reviewed the fiscal-year 2027 proposed budget and explained that Magna operates on a July 1–June 30 fiscal year. The presenter stated the city’s expected revenue for the coming fiscal year is "just over is 16,300,000," and reminded the council that Magna's revenues are driven primarily by sales tax (the city does not levy property tax). Staff walked through administrative and other fund columns and answered council questions about line-item changes and column updates that reflected MSD adjustments.
Council discussed several line items (retirement contributions, cell phones, memberships/subscriptions) and confirmed that previously adopted tentative-budget changes were reflected in the updated columns. After public hearing and council discussion, the council moved to close the hearing and adopt Ordinance O-10 (the FY2027 budget).
