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Newark projects modest surplus as council seeks to avoid a tax-rate increase
Summary
City Administrator Jenni Moore reported FY2025-26 expenses are expected to come in slightly under budget and revenues are projected to exceed budget; council directed staff to plan a budget that avoids a tax rate increase and limits nonessential spending.
City Administrator Jenni Moore led a budget workshop presenting year-to-date performance and projections. She reported total budgeted expenses of $13,806,522 were projected to come in slightly lower at $13,761,385, while total income was projected to exceed budget at $14,299,106 versus the budgeted $13,806,522.
Councilmembers expressed a clear preference to avoid increasing the city tax rate and asked staff to prepare a budget that includes only essential expenditures. Moore confirmed the city is required by the state to submit annual audit documentation before implementing any tax increase above the no-new-revenue rate and stated the city is in compliance with that requirement.
Council members noted residents also pay school, county, and bond taxes and asked staff to account for the cumulative impact on residents' tax bills when preparing recommendations.
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