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Preliminary FY 2026 Financial Results

At a glance

  • What: Work study item 2 on September 22, 2026: the City Treasurer's preliminary General Fund results for fiscal year 2026 (ended June 30) and the City Engineer's Capital Improvement Plan (CIP) update as of June 2026. Information only; no vote.
  • Headline numbers (slides): General Fund revenue $472.3 million, up 3.6 percent from the prior year and $21.0 million (4.7 percent) above budget; operating expenditures $460.6 million, $15.5 million (3.3 percent) under budget.
  • Next: Year-end audit September to October, final report presentations November to December (slide timeline).

Detail

Budget Department Director Selin presented the financial update and Transportation and Infrastructure Senior Director Tymkiw presented the CIP update, including a video.

  • Sales tax total $202.4 million, up 2.8 percent and $14.2 million above budget; slides link the gains to inflation and large one-time audit payments, and note a spike in April and June.
  • Interest earnings $19.7 million against $11.1 million budgeted. License, permit and fee revenue $17.5 million, $2.0 million under budget, because fire ambulance charges were projected on net billings rather than cash collections (method revised in the FY 2026/27 budget).
  • Police Department spending $201.6 million (up 48 percent) and Fire Department $89.4 million (up 21 percent).
  • CIP project budget slide listed the Brown Avenue Parking Structure Expansion ($20.9 million), Bahia Drive Drainage Improvements ($10.4 million), City Hall Solar ($4.7 million), the Thompson Peak Dog Park ($6.4 million), Cactus Trail and Thomas Road sewer and water improvements.

Council observations (no motion)

Added sales tax is coming from consumers; the sidewalk at Thomas Road and 68th Street is inaccessible and a telephone pole needs to be relocated; the Thompson Peak Dog Park is a great resource. The minutes do not attribute these to individual members.

Sources

Log

2026-09-22 - City Council

Work study presentations on preliminary FY 2026 results and the CIP. No vote.