Finance Committee reviews FY27 update, FY28 projection and five‑year forecast

The Finance Committee reviewed an informational update on FY27, a projection for FY28 and a five‑year fiscal forecast intended to start conversation around assumptions rather than to lock in policy. Staff said the materials were distributed to give committee members an opportunity to raise questions on assumptions and flagged that capital planning and local revenue estimates will be refined as projects and assessments firm up.

A staff presenter emphasized the materials were "extremely early in the budget process" and noted the forecasts will be updated after capital requests and local fiscal certification. Committee members asked whether to include anticipated new growth from specific projects in revenue projections; staff cautioned that treating speculative developments as baseline revenue risks overstating available funds and misstating fiscal health.

Members discussed alternate approaches: including scenario planning to show possible futures without counting speculative revenues in the baseline, and ensuring the assessors' timing and Department of Revenue rules govern when new growth can be captured in tax base calculations. Staff signaled more detailed capital and revenue figures will return in November and December work sessions.