Monday: Two-year spending plan on City Council's agenda
The City Council on Monday is scheduled to consider adoption of a balanced, two-year spending plan for operations and capital improvements.
A $48.4 million operating and capital budget is proposed for the 2025-26 fiscal year, which begins July 1; the proposed operating and capital budget for fiscal 2026-27 is $65 million.
As presented, the budget includes a 21.3% contingency that could cover 78 days of operations for 2025-26. For 2026-27, the rainy day fund would equal 19.9% of the budget or 72 days of operations.
The proposed budget includes annual transfers of $250,000 to the Pension Reserve Fund and Housing Reserve Fund in both fiscal years and $525,000 to the Capital Reserve Fund in 2026-27.
In both fiscal years, the budget sets aside funding for capital improvement projects and special projects the City Council has prioritized.
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