Board unanimously adopts plan to use fund balance to temper next tax rate

On a unanimous roll-call vote (12-0), the Board of Aldermen adopted R-26-058 to apply a portion of the city's fund balance to reduce the coming tax rate. The motion to suspend the rules and advance the measure to second reading was approved unanimously, and final passage likewise carried 12-0.

Sponsors said the resolution is intended to reduce the tax-rate pressure residents will face this December after a budget that includes several bond-authorizations and enterprise rate adjustments. The Mayorand sponsors did not specify an exact dollar amount in the meeting record beyond the board's earlier fund-balance discussion; staff will return with details to implement the resolution in the city's tax-rate calculations.

Board members co-sponsored the measure and indicated it will be coordinated with the budget and upcoming hearings on bond measures and enterprise fund actions.