Subject:
Title
Intent to Adopt FY 2026-27 Operating Budget (5 Min. Staff Presentation)
Body
DATE(S) OF PRIOR COUNCIL CONSIDERATION OF THIS ISSUE:
March 14, 2026, Town Council Work Session
March 23, 2026, Town Council Work Session
April 6, 2026, Town Council Public Hearing
EXPLANATION AND SUMMARY:
The Town Manager's proposed budget has been reviewed in detail during Town Council budget work sessions on March 14 and March 23, 2026, and during a public hearing on April 6, 2026.
The Town Manager's proposed FY2026-27 operating budget reflects current economic conditions over the next 12 to 24 months, and the top-ranked initiatives as identified by Town Council. The general fund budget includes a real estate tax rate of $0.1925 per $100 of assessed value and increases in salaries and other costs to meet current economic conditions and operational needs.
The budget, proposed for adoption as revised for fiscal year 2026-27, in the total amount of $58,285,400 is appropriated for the fiscal year beginning July 1, 2026 and ending June 30, 2027, and is detailed by fund as follows:
FUND:
General Fund
$35,718,550
Debt Service Fund
$6,325,000
Water and Sewer Fund
$15,426,000
Stormwater
$815,850
TOTAL
$58,285,400
Departmental Recommendation: Recommend adoption of the FY2026-27 budget as presented.
Finance Recommendation: Recommend adoption of the FY2026-27 budget as presented.
Purchasing Recommendation: N/A
Town Attorney Recommendation: The Town has conducted a public hearing and advertised the proposed FY26-27 Annual Budget. The Town Council may approve the proposed Annual Budget in its discretion.
Town Manager's Recommendation: I recommend the Town Council adopt the operating budget, as presented.
Cost and Financing: N/A
Account Number: N/A
Prior Funding Approval: Annual General Budget (Year), Amendments, CIP Budget (Year), or ARPA.
Decision Needed by this date: May 18, 2026
PROPOSED/SUGGESTED MOTION
Recommended Action
“I move to adopt the $58,285,400 operating budget.”
And
“I further move that of the said total, $35,718,550 be appropriated for general fund expenditures; $6,325,000 be appropriated for debt service fund expenditures;
$15,426,000 be appropriated for water and sewer fund expenditures; and $815,850 be appropriated for stormwater fund expenditures.”
Or
Other action deemed necessary by Council.