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Agenda Item: 4 |
Prepared By: Casey Lucius, Ph.D., Assistant City Manager |
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Business: City Council Item |
Department: Executive |
Subject:
Title
FY26 Budget Options - Casey Lucius, Ph.D., Assistant City Manager
Body
BACKGROUND:
On August 4, 2025, City Council asked for another budget meeting which was held on August 18, 2025 and focused on the spending cap and a new proposed millage rate. The proposed millage rate was rejected by City Council, and Council scheduled another budget meeting for August 25, 2025. Attached is a memo containing a list of proposed budget cuts to achieve a 1.24 millage rate, and options for Council consideration.
FUNDING SOURCE / FISCAL IMPACT:
The General Fund budget is primarily funded through ad valorum property taxes.
RECOMMENDATION:
City staff is recommending a 1.29 millage rate, or a 1.24 millage rate with an LCEC franchise fee.
POTENTIAL MOTION: I move to approve….