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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 and Fleet Management 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 the maintenance of a high-performing organization. These priorities were affirmed during the February 2026 Strategic Planning Session and have guided the development of the proposed Fiscal Year (FY) 2026-27 budget.
At the April 21, 2026, Study Session meeting, staff kicked off the FY 2026-27 budget process by providing an overview of the City's budget process, information on the City's strategic focus areas, 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 and discussed preliminary FY 2026-27 operational priorities. Council emphasized continued long-term financial planning and transparent public communication and requested follow-up information regarding the anticipated tax rate, utility-rate impacts, grants, community-event costs, and historical Minor Home Repair Program expenditures.
At the June 2, 2026, Study Session meeting, staff provided updates regarding current revenue and expenditure conditions, utility infrastructure funding needs, community-centered programs, grants, and strategic investment considerations. Additional discussion included changes to Business Personal Property exemption...
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