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Finance director presents FY2026 budget with COLA, merit increases and three proposed positions
Summary
At a March 3 Charles Town workshop, Finance Director Lori outlined the proposed FY2026 budget that includes a 2.5% cost-of-living adjustment, a 2.5% merit pool, a projected 16% rise in health insurance costs, and funding requests for three new positions including a planner.
Lori, the finance director, opened the budget presentation with a five-year history and the FY2026 proposal, saying the plan "has a 2.5 COLA, and a 2.5% MERIT, increase baked into it." She told council members the packet shows the latest figures and that staff considered city, state and national economic conditions when compiling estimates.
The proposed budget includes three new personnel requests — a planner, a maintenance worker and a parks and recreation director — and assumes a 16% increase in health insurance costs. Lori also flagged a $300,000 contingency balance and said some federal grants are reimbursement-based. Council members pressed for clarity on how COLA and merit were reflected in salary lines (previously the COLA had been carried in contingency and was moved into salaries during FY25 revisions). The report lists a revised salaries line of $7,272,455 after revision three. Priscilla, the chair, and other members agreed to carry some open questions to the regular council meeting for final votes and adjustments.
