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Finance director outlines changes to bring FY27 proposal to 3.3% target; council accepts memo
Summary
Finance Director Martha Machar told council the gap between the original 3.51% proposed budget and the council's 3.3% target was about $49,000; she recommended funding $49,000 of an existing CIP project from reserves to hit 3.3%. The council voted unanimously to accept the recommendation and to warn a public hearing for Jan. 12.
Finance Director Martha Machar presented supplemental budget information requested by councilors and said staff had identified $49,000 as the difference between the proposed 3.51% increase and the council's requested 3.3% target. "So to find $49,000, we said, okay... we are recommending that the council fund a portion of the capital project with that amount," Machar said, referring to a Patchin/White Street intersection signalization CIP item.
Councilors debated using reserves to cover part of the CIP line so the operating tax-rate increase could meet the 3.3% target; a motion to accept the memo and staff recommendations passed unanimously. The council also voted to warn a public hearing on the proposed FY27 budget and related CIP amendments for Jan. 12 at 7 p.m.
