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Council approves final 2026 financial report and adopts 2027 budget; Law Enforcement funds must be returned
Summary
The Council unanimously approved Resolution 2026-018 (final quarter financial report) and Resolution 2026-019 (final 2027 budget). Finance Director Jim Cox reported June gross-receipts tax was $3,000 over budget, FY2026 revenue collected 102% of budget, expenditures at 83%, and $71,433 in Law Enforcement Protection Funds must be returned to the state.
At the Finance Board portion of the meeting, Finance Director Consultant Jim Cox reported that June gross-receipts-tax collections exceeded budget by $3,000 and the general fund closed FY2026 with 102 percent of budgeted revenue collected and 83 percent of the expenditure budget spent. Cox also said unspent Law Enforcement Protection Funds totaling $71,433 must be returned to the state because of a rule change that prohibits carryover or use for operations.
The Council approved Resolution 2026-018 (final-quarter financial report for year ending June 30, 2026) on a motion by Trustee James McCue, seconded by Trustee Victoria Martinez, and adopted Resolution 2026-019 (final 2027 fiscal-year budget) on a motion by Trustee Robert Wilson, seconded by Trustee Judy Boyd. Both motions passed unanimously by roll call vote; minutes note the adopted budget meets the state's general-fund reserve requirement.
