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Town Manager's Recommended Budget for Fiscal Year 2025-26
PURPOSE:
This agenda item is for the Town Manager to present the Recommended Budget for FY 2025-26.
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Department
DEPARTMENT: Town Manager & Finance
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Council Direction
COUNCIL DIRECTION:
_X__ Race/Equity _X___ Climate __X__ Comprehensive Plan ____Other
Council Direction Statement
The budget and budget book are among the most important documents the Town produces annually as required by State statute. To develop the FY 2025-26 budget, staff aligned all Council objectives-including Race and Equity, Climate Action, the Comprehensive Plan, and prioritized initiatives-with fiscal planning efforts.
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Information
INFORMATION:
According to state law, the Town Manager must submit a recommended budget for fiscal year 2026, along with a budget message, to the Mayor and Town Council. This recommended budget will be made available to the public for 10 calendar days, and the Town Council is required to hold a public hearing before adopting it. The FY 2026 Recommended Budget will be accessible on the Town's website, attached to this agenda item, and will also be available in public spaces starting on May 7, 2025.
Major goals for the FY 2026 budget are to:
* Implement the Town Council's priorities.
* Investment in the retention of current town staff.
* Development of a balanced budget.
* Manage costs while improving services for residents.
* Conceptualize a long-term financial sustainability plan for the Town.
The Town Manager will present the recommended budget at the Town Council meeting on May 6, 2025. Notice of the public hearing for May 20, 2025 will be published by the Town Clerk and posted to the Town's website.
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Fiscal and Staff Impact
FISCAL IMPACT
The cost to publish the public hearing notice.
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Recommendation
RECOMMENDATION:
The Town Manager recommends that the Town Council accept the Town Manager's Recommended Budget for FY 2026 and hold a public hearing on Ma...
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