Staff says millage rollback will be covered by reserves; no immediate cuts planned
Summary
A committee member asked whether the rollback millage required budget reductions. A staff member said counsel directed a rollback and that general fund reserves would be used to fill the gap while staff monitor revenue trends.
A committee member asked whether officials had reworked the draft budget after the city council adopted a rollback millage rate and whether staff were finding offsetting savings. The committee member framed the question as whether the committee would "find money or are we just gonna go with reserves?"
A staff member replied that counsel directed the rollback and that the plan is to use general fund reserves to cover the shortfall while staff watch revenues. "The direction from counsel was to go to roll back and to utilize the use of general fund reserves to fill the gap," the staff member said, adding that a local half-cent sales tax is down about 5% and that the committee had budgeted for a 1% increase over the prior year.
Staff said they would continue to monitor revenues and consider adjustments over the fiscal year if the sales-tax decline persists. No formal budget reductions were directed during the meeting.
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