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Consider adopting Ordinance No. 4014 approving and adopting a budget and strategic plan for the fiscal year beginning October 1, 2026, and ending September 30, 2027; providing that expenditures for said fiscal year shall be made in accordance with such budget; appropriating and setting aside the necessary funds out of the general and other revenues for the maintenance and operation of various departments and for various activities and improvements of the City; appropriating the various amounts required for such budget; amending the 2025-26 adopted budget; and take appropriate action.
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REQUESTOR:
Finance Department
BACKGROUND:
The City Manager is responsible for preparing and submitting a balanced budget that aligns with the City Council's strategic priorities, meets departmental operational needs, and is supported by projected and sustainable revenue sources. The annual budget serves as the City’s financial and operational plan. A balanced budget ensures that available resources are allocated responsibly, and essential services are adequately funded. Aligning ongoing expenditures with sustainable revenues supports long-term financial stability, transparency, and accountability to our residents.
On July 31, 2026, City Management submitted the proposed balanced budget for Fiscal Year 2026-2027. The budget reflects the Council's strategic direction and incorporates sound financial planning principles to ensure long-term fiscal sustainability and service excellence.
This year's proposed budget is further supported by the City's continued strong financial position, as evidenced by the reaffirmation of AAA bond ratings from both Fitch Ratings and S&P Global, representing the highest possible credit rating a municipality can achieve.
A Town Hall meeting was held on August 25th to present and discuss the budget. On September 1, 2026, the Finance Department discussed the End-of-Year budget with the City Council. The attached information memorandum outline...
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