Placement: New Business
Action Requested: Motion / Vote
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Tentative Approval of the City Manager's Proposed Fiscal Year (FY) 2025-26 Budget and Establish the Tentative Millage Rate, which Represents the Maximum Property Tax Rate that May be Adopted for the Upcoming Fiscal Year.
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Submitted By: Caroline Sturgis, OMB Director
Strategic Plan Link: The City's Goal of a high-performing city government organization.
Executive Summary (General Business): At this meeting, the City Council will be asked to tentatively approve the City Manager's Proposed Fiscal Year 2025-26 Budget and establish the tentative millage rate, which represents the maximum property tax rate that may be adopted for the upcoming fiscal year.
Presentation Information: Presentation of the City Manager's Proposed Fiscal Year (FY) 2025-26 Budget.
Staff Recommendation: Move that the Council tentatively approve the City Manager's Proposed Fiscal Year (FY) 2025-26 Budget and set the City's proposed millage rate for 2025-26.
Alternate Recommendations:
1. Move that the Council amend the recommendation and tentatively approve the City Manager's Proposed Budget for Fiscal Year (FY) 2025-26.
2. Move that the Council move that the Council provide direction.
Background: N/A
Issues/Analysis: N/A
Financial Information: The City Manager's Proposed Fiscal Year (FY) 2025-26 Budget includes the Capital Improvement Program, which was tentatively approved on May 19, 2025. The City Manager's Proposed Budget reflects alignment with the City Council's Strategic Plan. The proposed operating millage rate is 4.6807, which remains unchanged from the prior year. The voted debt millage has been proposed to decrease by 0.0600 mills, resulting in a total proposed millage rate of 4.9950 - comprising 4.6807 for operations and 0.3143 for voted debt (Crosstown Parkway).
Special Consideration: N/A
Location of Project: N/A
Business Impact Statement: N/A
Attachments: City Manager and Office of Management an...
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