AGENDA CAPTION:
Title
Receive a staff presentation and hold discussion regarding the Fiscal Year 2025-2026 Financial Update and preliminary Fiscal Year 2026-2027 Budget; and provide direction to the City Manager.
Body
Meeting date: June 25, 2026
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 March 31, 2026, which provided the guidelines for staff to follow in developing the FY 2027 Budget.
City Council Strategic Initiative: [Please select from the dropdown menu below]
Public Safety, Core Services & Fiscal Excellence
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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 FY 2027 Budget Policy on March 31, 2026, which provided staff with the guidelines to follow in developing the FY 2027 Budget. The first budget workshop was held on May 19, 2026, where City Council was updated on sales tax collections, preliminary taxable values, economic indicators, budget timeline, and FY 2027 budget considerations. This is the final budget workshop scheduled to discuss the FY 2027 Budget prior to the Proposed Budget being submitted to City Council on August 18, 2026.
This budget workshop will provide insight into how the FY 2027 Budget is taking shape. There are additional decision points for City Council to provide guidance to staff in preparing the budget. The budget will continue to be refined as more information and guidance is received and we move closer to August 18, 2026. The intention of staff is to submit a budget in August that reflects Council’s direction and priorities.
Council Committee, Board/Commission Action:
N/A
Alternatives:
N/A
Recommendation:
City Council receive the presentation on the Fiscal Year 2026 financial update and Fiscal Year 2027 Budget progress and provide direction to staff.