AGENDA CAPTION:
Title
Receive a Staff presentation and hold discussion regarding the preliminary Fiscal Year 2025-2026 budget and related budgetary considerations and provide direction to the City Manager.
Body
Meeting date: May 20, 2025
Department: Finance
Amount & Source of Funding
Funds Required: N/A
Account Number: N/A
Funds Available: N/A
Account Name: N/A
Fiscal Note:
Prior Council Action: City Council approved the Budget Policy on February 27, 2025, which provided guidelines for staff to follow in developing the FY 2026 Budget.
City Council Strategic Initiative: [Please select from the dropdown menu below]
Public Safety, Core Services & Fiscal Excellence
Choose an item.
Choose an item.
Comprehensive Plan Element (s): [Please select the Plan element(s) and Goal # from dropdown menu below]
☐ Economic Development - Choose an item.
☐ Environment & Resource Protection - Choose an item.
☐ Land Use - Choose an item.
☐ Neighborhoods & Housing - Choose an item.
☐ Parks, Public Spaces & Facilities - Choose an item.
☐ Transportation - Choose an item.
☐ Core Services
☐ Not Applicable
Master Plan: [Please select the corresponding Master Plan from the dropdown menu below (if applicable)]
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Background Information:
City Council adopted the Budget Policy on February 27, 2025, which provided staff with guidelines to follow in developing the FY 2026 Budget. This budget workshop will provide an update on how the FY 2026 Budget is coming together. The presentation will include information on:
Economic Indicators
General Fund Major Revenues: Sales Tax and Property Tax
General Fund Forecast update
FY 2026 Revenue and Expense Considerations
Public Engagement Received to Date
The FY 2026 Budget will continue to be refined as more information and guidance is received and we move closer to August 19th when the budget is submitted to City Council.
Council Committee, Board/Commission Action:
Budget Policy approval on February 27, 2025.
Alternatives:
N/A
Recommendation:
City Council receive the presentation regarding the preliminary Fiscal Year 2025-2026 budget and provide direction to staff.