Title
Consider and take action on Ordinance 2025-31 adopting the Annual Budget for Governmental and Proprietary Funds for Fiscal Year 2026 – Second Reading (Assistant City Manager - CFO)
Council approved 7-1-0 on August 26, 2025.
Taxpayer Impact Statement Required per H.B. 1522 effective September 1, 2025
2024 Adopted Tax Rate $0.369 with average homestead taxable value of $351,138 equals tax of $1,295.70
2025 No-New-Revenue Tax Rate $0.36355 with average homestead taxable value of $362,634 equals tax of $1,318.36
2025 Proposed Tax Rate $0.36355 with average homestead taxable value of $362,634 equals tax of $1,318.36
Background:
Pursuant to City Charter and state law, adoption of this ordinance will establish the budget for the 2026 fiscal year. The budget ordinance is based on the proposed budget, as adjusted, and as described in Exhibit A, B and C.
The FY2026 Proposed Budget provided to City Council on July 15, 2025, included $195,474,604 for operations. Changes were made during the series of workshops in July and August.
City Council held a first reading of the budget ordinance on August 26, 2025. The proposed ordinance estimates property tax revenue at the no-new-revenue tax rate of $0.36355 with a total operating budget of $194,511,462.
Changes to the Proposed Operating Budget
City Council held a series of work sessions on July 22nd, August 12th, and 26th. A Public Hearing was held on August 26th. As a result of these discussions, the first reading of the FY2026 budget was adjusted. The operating budget appropriation for the first reading of $194,511,462 is $963,142 less than the July 15th proposed budget of $195,474,604.
Changes Discussed at August 12 Workshop
Exhibit A to the ordinance outlines the operation budget which includes:
General Fund – decrease of $2 million
- Removal of contract internal audit services ($40,000)
- Removal of Historic District Survey update ($25,000)
- Removal of the HR Employee Leave & Claims Coordinator ($86,531)
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