COUNCIL COMMUNICATION
TO: Honorable Mayor and Council
FROM: Jill Olsen, Administrative Services Director
SUBJECT:Title
Discussion and Action: Resolution No. 25-3847 Adopting the Fiscal Year 2025-26 Final Budget (Jill Olsen)
Body
FUNDING SOURCE:
Various Departments
PURPOSE:
To consider adoption of a resolution adopting the Fiscal Year 2025-26 Final Budget.
BACKGROUND:
Attached for City Council adoption is a resolution and state budget forms for the Fiscal Year 2025-26 Final Budget. The City Council adopted the Fiscal Year 2025-26 Tentative Budget on June 10, 2025. The adopted Tentative Budget was duly published as required by state law on June 10, 2025, and June 17, 2025.
Today, City Council meets to adopt the Fiscal Year 2025-26 Final Budget. At this meeting, any taxpayer is privileged to appear and be heard in favor of or against any of the proposed expenditures or estimated tax levies. The tax rate for Fiscal Year 2025-26 remains the same as the rate for Fiscal Year 2024-25. The Final Budget for Fiscal Year 2025-26 is $278,826,640.
The City Council will meet on July 8, 2025, for the purpose of adopting the tax levy rates:
City Property Tax: $0.6718
Rate Per $100 Primary Assessed Value
The City Council will meet on July 8, 2025, for the purpose of adopting the tax levy for special district:
Improvement District No. 2: $0.7370
Rate Per $100 Primary Assessed Value
COMMUNITY IMPACT:
The budget is developed as a spending plan for outlining priorities and providing services to the community.
FISCAL IMPACT:
Fiscal Year 2025-26:
Projected expenditures of $278,826,640
Projected revenues of $191,420,781
ATTACHMENTS:
Resolution No. 25-3847
Fiscal Year 2025-26 State Budget Forms, Schedules A through G Final
Final Budget Adoption Presentation
SUGGESTED MOTION:Recommended Action
I move to adopt Resolution No. 25-3847 adopting the Fiscal Year 2025-26 Budget in the amount of $278,826,640.