Administrator Britney presents balanced 2026 draft budget and seeks early debt payoff

Administrator Britney presented the draft 2026 city budget and explained that the draft shows a $37,000 drop in the tax levy, largely because principal and interest payments on debt fall by about $136,000 next year. She noted that net new construction has increased taxable base (about $99,000 of net new construction), and that staff balanced a prior roughly $30,000 deficit by adjusting transfers and capturing intergovernmental aid. The draft includes a transfer of about $183,000 to capital and assumes a 2.7% wage increase reflected in personnel costs.

Britney asked the committee for direction on whether to smooth levy fluctuations or allow the temporary decrease now and higher payments later; several members favored keeping a level levy and using available debt‑service fund balance to pay certain non‑GAO lease debt sooner. "There is a decrease in the tax levy of 37,000," Britney said when summarizing the draft. The committee voted unanimously to recommend the budget package to Common Council with the proposed levy adjustment and early debt payoff.