Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Budget topic
No spam. Unsubscribe anytime.
Homewood manager outlines $77.9 million proposed FY27 budget, flags long-term revenue concerns
Summary
City Manager Cale Smith presented an overview of the proposed FY27 budget, citing a $77.9M general fund, $4.87M carryover fund balance (including a $1M proposed OPEB trust), approximately $42.2M in personnel costs and an $8.85M capital budget. Smith urged council to consider long-term alignment of recurring revenues and expenses.
City Manager Cale Smith presented the proposed FY27 budget to the Homewood City Council Aug. 10, describing it as a draft that will be refined during six weeks of budget hearings. Smith said the proposed general fund totals about $77,900,000 and the proposed general fund revenues are approximately $58,800,000, with roughly three-quarters coming from taxes.
On personnel and capital, Smith told the council that personnel is the largest operating expense at about $42,200,000 and that the capital program totals roughly $8,850,000, which includes the purchase of 14 police vehicles and investments in sidewalks and stormwater repairs. “This is a proposed budget and it will change,” Smith said, emphasizing the need for the council to focus on revenue assumptions, fund balance use, reserve levels and sustainable staffing and capital plans; council set budget hearings to continue the review ahead of a Sept. 28 adoption timeline.
