Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance topic
No spam. Unsubscribe anytime.
Preliminary FY26 results: city revenues roughly on target but overtime pushed personnel costs higher
Summary
Budget manager Eric Stoyanov reported preliminary FY26 results showing overall revenues at about 99.7% of budget and a preliminary surplus of roughly $2 million, but overtime exceeded budget by $900,000 with FY26 general-fund overtime totaling $3.8 million.
Eric Stoyanov, budget manager, presented preliminary FY26 financial results, emphasizing that the figures are still subject to audit adjustments. "Overall, we came very close of hitting our mark with our annual budget, 99.7 percent," Stoyanov said, noting sales and use tax performance and early FY27 indicators showing sales tax up 6.7% and use tax up 23% through two months.
On the expense side, Stoyanov flagged overtime as the main pressure: general-fund overtime exceeded budget by $900,000 in FY26, totaling about $3.8 million compared with historical averages near $2.2 million. He attributed much of the overtime growth to public-safety overtime (fire and police increases) and noted that if preliminary numbers hold the city would add roughly $2 million to the unassigned fund balance, keeping the fund-balance ratio near policy targets. Stoyanov said these numbers are preliminary while the audit is completed.
