City Council reviews FY2026 midyear budget, previews FY27 budget; discusses property tax levy and solid waste rate adjustments
At a glance
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Council received the FY26 midyear report (YTD as of 12/31/2025: expenditures $98.84M (33%), revenues $131.54M (49%)), reviewed FY27 budget considerations including statewide revenue impacts and personnel costs, heard staff recommendation to adopt the maximum allowable property tax levy ($2,492,987) while Council members expressed mixed preferences, and discussed immediate adjustments and a future rate study for the Solid Waste Fund (proposed residential increase $23.33→$26.45/mo; transfer station $106/ton→$120/ton; ~16% commercial increase). No formal action was taken; staff will proceed with the FY27 budget schedule and follow-up work.
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Key decisions
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- No formal action taken; item was for discussion only.
- Staff recommended adopting the FY27 maximum allowable property tax levy of $2,492,987; Council members expressed split preferences between adopting the proposed levy and limiting increases to new construction only.
- For Solid Waste Fund: staff proposes assessing fees at the last-year rate on July 1 and pursuing a full rate study beginning Spring 2027 to evaluate service delivery and structural adjustments.
- Solid Waste rate proposals discussed: residential service from $23.33 to $26.45/month; transfer station gate rate from $106/ton to $120/ton; commercial rates approximately 16% overall increase.
- FY27 budget development timeline affirmed: Department reviews Mar 30–Apr 10; budget available Apr 20; Budget Workshops Apr 27 and May 11; Tentative adoption Jun 9; Final adoption and hearings Jun 23; Property tax levy adoption Jul 14.
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Meeting information
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Special Study Session
Agenda
- 1. CALL TO ORDER
- 2. ROLL CALL
- 3. DISCUSSION
- A. Presentation & Discussion Regarding the FY2026 Midyear Budget Report and a Preview of the FY27 Budget.This item is for discussion only. No formal action will be taken. | attachments=1 | reports=1Decision: DISCUSSION
- 4. ADJOURNMENT
Documents from this meeting
- Minuteshttps://prescottaz.api.civicclerk.com/v1/Meetings/GetMeetingFileStream(fileId=6989,plainText=false)
- Packethttps://prescottaz.api.civicclerk.com/v1/Meetings/GetMeetingFileStream(fileId=6808,plainText=false)
- Agendahttps://prescottaz.api.civicclerk.com/v1/Meetings/GetMeetingFileStream(fileId=6807,plainText=false)
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