AGENDA CAPTION:
Title
Receive a Staff presentation and hold a discussion regarding the Fiscal Year 2026-2027 Proposed Budget; and provide direction to Staff.
Body
Meeting date: August 18, 2026
Department: Finance
Amount & Source of Funding
Funds Required: N/A
Account or Project Number (C = CIP funds): N/A
Funds Available: N/A
Account Name: N/A
Fiscal Note:
Prior Council Action: City Council Strategic Planning and Visioning on January 29-30, 2026, Budget Policy Workshop on February 26, 2026, Budget Policy Adoption on March 31, 2026 (Resolution 2026-46R), Budget Workshops on May 19, 2026, and June 25, 2026.
City Council Strategic Initiative: [Please select from the dropdown menu below]
Public Safety, Core Services & Fiscal Excellence
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Comprehensive Plan Element (s): [Please select the Plan element(s) and Goal # from dropdown menu below]
N/A Arts and Culture - Choose an item.
N/A Economic Development - Choose an item.
N/A Environment & Resource Protection - Choose an item.
N/A Housing + Neighborhoods - Choose an item.
N/A Land Use + Community Design and Character - Choose an item.
N/A Parks & Public Spaces + Health, Safety & Wellness - Choose an item.
N/A Transportation - Choose an item.
N/A Core Services
N/A Not Applicable
Master Plan: [Please select the corresponding Master Plan from the dropdown menu below (if applicable)]
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Background Information:
The budget process began with Visioning in January 2026, when City Council developed and prioritized strategic goals for the upcoming year. In March 2026, City Council approved a Budget Policy Statement that provided the foundation for the Fiscal Year 2027 Budget development. Subsequent budget updates were provided to City Council in the May and June timeframe. These budget workshops were opportunities for Council to provide direction to staff on the continued development of the proposed Fiscal Year 2027 Budget.
The Fiscal Year 2027 Proposed Budget has appropriations of $406.0 million across all funds.
• General Fund = $139.5 million
• Electric Utility Fund = $87.2 million
• Water-Wastewater Utility Fund = $86.9 million
• Internal Service Funds = $24.4 million
• Debt Service Fund = $20.3 million
• Special Revenue Funds = $14.1 million
• Stormwater Fund = $11.4 million
• Tax Increment Financing Funds = $9.2 million
• Resource Recovery Fund = $8.8 million
• Transit Fund = $3.0 million
• Airport Fund = $1.2 million
Council Committee, Board/Commission Action:
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Alternatives:
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Recommendation:
Receive the Fiscal Year 2027 Budget presentation and provide direction to staff.