Summary
To: Town Commission
From: Gay Lancaster, Town Manager
Date: 9/3/2026
______________________________________________________________________
Subject:
Title
Proposed Budget Fiscal Year 2026-2027 First Public Hearing
Summary:
Proposed Budget Fiscal Year 2026-2027
End
Body
Previous Commission Action: The Town Commission previously approved the maximum millage rate of 6.9777. Subsequent discussions were held to review and discuss any changes to the preliminary budget.
Background/Problem Discussion: The Town Commission must annually approve a balanced budget.
Expenditure Challenges Sufficient funds must be allocated to provide the essential services, maintain and improve the infrastructure, and support the quality of life desired by the residents of the Town. Ad valorem taxes are the main source of revenue to provide the necessary funds.
Financial Implications: The proposed budget for the 2026-2027 fiscal year, including reserves is $55,571,941 which represents a decrease of $609,784 or 1.1% from previous year.
Recommendation: Staff recommends approval of the Tentative Budget for Fiscal Year 2026-2027.
Proposed Motion I move approval of the Tentative Budget for Fiscal Year 2026-2027.