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Finance director: midyear budget shows planned $866,000 drawdown; incoming state and tax revenues to improve position
Summary
Finance Director Caitlin Krieger reported a planned $866,000 use of fund balance as of June 30 and noted expected incoming revenues (a tax settlement of about $4.5 million and approximately $14 million in state shared revenue) that will improve the city's fiscal position for 2026; she outlined the 2027 budget timeline.
Caitlin Krieger, the city's finance director, presented the 2026 year-to-date general fund report and a preliminary outlook for the 2027 budget. She told the council, “We have a current deficit in the amended budget, of 866,000,” describing that figure as an intentional use of fund balance previously approved by the council.
Krieger flagged several near-term revenue items that will change the midyear picture, including a tax settlement of about $4,500,000 and state shared revenue in the neighborhood of $14,000,000. She reviewed factors that will shape the 2027 budget — the levy limit and August equalized value posting, prospective CPI-based expenditure restraint calculations, changes in Wisconsin Retirement System employer contributions, and negotiated amounts for union contracts — and reminded the council of key budget dates including department submissions on August 14 and a Committee of the Whole review in October ahead of an anticipated November 2 council action.
