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.
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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 City Council strategic priorities, including infrastructure reinvestment, neighborhood stability, mobility, economic vitality, public safety, and maintaining a high-performing organization.
At the April 21, 2026, Study Session meeting, staff kicked off the Fiscal Year (FY) 2026-27 budget process by providing an overview of the City's budget process, information on the strategic focus areas of the City, and the budget cycle timeline.
At the May 5, 2026, Study Session meeting, staff continued budget discussions by providing additional information regarding the City's budget structure, revenue outlook, and infrastructure funding needs. Staff updated Council on the status of departmental budget submissions and internal administrative review efforts, while also discussing preliminary FY 2026-27 operational priorities.
Additional discussion topics included long-term water and wastewater infrastructure funding strategies, property tax and sales tax considerations, the Revenue Stabilization Fund, community partnership investments, grant opportunities, and ongoing public communication and transparency efforts.
Council provided feedback regarding long-term financial forecasting, utility rate communication, public outreach materials, event-related expenditure transparency, grant funding, and continued emphasis on maintaining fiscal sustainability and community engagement throughout the budget development process.
DISCUSSION:
This update is intended to provide City Council and the public with additional discussion and follow-up related to several budget topics previ...
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