Title
Consider/Discuss/Act on Approving the FY26 27 MEDC Budget
Summary
COUNCIL GOAL: Financially Sound Government
(4A: Provide Funding and Organizational Framework to Ensure Continual Economic Improvements)
MEETING DATE: June 16, 2026
DEPARTMENT: MEDC
CONTACT: Michael Kowski, President & CEO
RECOMMENDED BOARD ACTION:
• Staff is recommending approval of the FY26 27 MEDC Budget.
ITEM SUMMARY:
• The City is forecasting a 2.5% increase in Sales Tax.
• The proposed budget is based on $28.06 million in revenue, with total expenditures (including non-committed contingency funds) totaling $28.06 million.
• The proposed budget includes the addition of a new Project Manager (salary range $79,612 - $115,440).
BACKGROUND INFORMATION:
• The citywide budget will be adopted by the City Council in September, with an effective date of October 1, 2026.