Title
Discuss and receive a presentation on the Fiscal Year 2026-27 Budget Update, including fiscal outlook, revenue considerations, strategic investment areas, and ongoing budget development topics.
Body
REQUESTOR:
Finance Department
BACKGROUND:
The annual budget process serves as the City’s primary financial and policy planning tool, ensuring that available resources are intentionally aligned with the City Council’s strategic priorities, including infrastructure reinvestment, neighborhood stability, mobility, economic vitality, public safety, and a high-performing organization.
As part of the Fiscal Year (FY) 2026 - 27 budget development cycle, this update advances the City’s phased and deliberate budget planning approach. Building upon the initial kickoff session, this discussion provides additional context on the City’s fiscal environment, key revenue and expenditure trends, and emerging considerations for strategic investment. The intent is to support informed Council direction on priorities, sequencing, and resource allocation, while maintaining the City’s commitment to fiscal stewardship and long-term organizational sustainability.
DISCUSSION:
This update is intended to provide City Council and the public with a more detailed overview of the City’s financial outlook and the key factors influencing development of the FY 2026-27 budget.
Topics presented include:
• Current and projected revenue conditions, including property tax stability and sales tax volatility
• Fund balance and financial stability considerations
• Overview of the City’s budget communication and public engagement plan
Additionally, this session outlines the major discussion topics that will be brought forward in future study sessions, including tax rate considerations, fees, infrastructure investments, and long-term financial planning.
This item is informational and designed to continue early Council engagement in the budget process, ensuring alignment between policy direction and resource planning prior to formal budget adoption.
DISTRICT:
Citywide
FISCAL IMPACT:
Determined by Council direction.
POSSIBLE COUNCIL ACTION:
N/A
ATTACHMENT(S):
1. Budget After Action Report No. 1 - 04/21/2026
2. Presentation