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The committee discussed an approximately $15 million Fiscal Year 2025 deficit, unfinalized financial books, and revenue lines that may have been overstated in the 2026 adopted budget.
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Officials said the City cannot finalize its 2025 books because some outstanding liabilities have not yet been submitted. They discussed using fund balance to cover some unpaid 2025 bills, which could leave the City financially vulnerable. Possible future revenue sources included additional state funding, a local income tax, and downtown economic activity, but no new revenue policy was approved.
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