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City Controller Jackie McCombs flags big uncertainty in Bloomington budget revenue estimates
Summary
City Controller Jackie McCombs told the fiscal committee that county-level certified income-tax figures look positive but city-level revenue projections are uncertain because local AGI must be estimated; she outlined the budget timeline and urged use of the raw dataset.
City Controller Jackie McCombs told the Bloomington fiscal committee that new state data show countywide revenue growth but warned that city-level estimates remain uncertain because adjusted gross income for the city must be estimated.
"There is a big uncertainty factor there," McCombs said, urging council members to use the raw dataset for detailed analysis and explaining that informal budget presentations in August are prework ahead of formal advertisement and hearings. McCombs listed informal budget presentations scheduled for Aug. 17, 19, 24 and 26 and said the budget must be advertised at least 10 days before the official hearing.
McCombs reiterated the formal timeline: the advertisement should go out no later than Sept. 13, the official budget hearing is scheduled for Sept. 23 at 6:30 p.m., and final adoption is scheduled for Oct. 7 at 6:30 p.m. She recommended councilors and staff share one-page summaries and links to the state and city resources to improve public access to the materials.
The update framed the administration’s approach to a budget built with conservative revenue assumptions while staff continues to revise projections as new state and local figures arrive.
