Subject:
Title
Public Hearing for Fiscal Year 2026-27 Operating Budget (5 mins.)
Body
DATE(S) OF PRIOR COUNCIL CONSIDERATION OF THIS ISSUE:
March 14, 2026
March 23, 2026
EXPLANATION AND SUMMARY:
The Town Manager's proposed budget for fiscal year 2026-27 has been presented to the Mayor, Town Council, and residents. The proposed budget was reviewed by Town Council during work sessions held on March 14 and March 23, 2026. This public hearing allows the opportunity for residents to provide public input.
The Town Manager's proposed fiscal year 2026-27 budget reflects economic conditions expected over the next 12 to 24 months, and the top-ranked initiatives as identified by Council. The general fund budget includes no change in the real estate tax rate of $0.195 per $100 of assessed value and includes increases in salaries and other costs to meet current operational needs.
The proposed fiscal year 2026-27 budget totals $58,285,400 for the fiscal year beginning July 1, 2026, and ending June 30, 2027, and is broken down as follows:
* General Fund $35,718,550
* Debt Service Fund $6,325,000
* Water and Sewer Fund $15,426,000
* Stormwater Fund $815,850
Departmental Recommendation: Recommend a public hearing on the proposed operating budget.
Finance Recommendation: Recommend a public hearing on the proposed operating budget.
Purchasing Recommendation: N/A
Town Attorney Recommendation: Pursuant to the state and Town Code, the Town Council must conduct a public hearing to receive public input on the proposed FY26-27 Budget.
Town Manager's Recommendation: I recommend the Town Council close the public hearing and direct the Town Clerk to advertise a Notice of Intent to Adopt the Fiscal Year 2026-2027 Budget at the May 18, 2026, Town Council meeting, as presented.
Cost and Financing: $58,285,400 Proposed Operating Budget
Account Number: various
Prior Funding Approval: Annual General Budget (Year), Amendments, CIP Budget (Year), or ARPA.
Decision Needed by thi...
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