Finance staff reports increased TIF revenue and minor budget shifts ahead of May 4 approval

Finance staff reviewed updates to the draft fiscal budget at the Committee of the Whole on April 20, reporting higher expected tax increment financing (TIF) receipts and several timing changes.

Jason, presenting the revenue side of the draft, said final 2025 equalized assessed value numbers pushed Route 31 TIF revenue from about $807,500 to roughly $1,000,006.42, and increased United TIF revenue from $1,630,000 to $2,377,000. He said the transfer from Route 31 to United TIF would increase to close out Route 31.

On the water fund, Jason said a $1.5 million water impact fee will likely be delayed into fiscal year 2027–28 because the project that triggers it postponed opening. He said water‑sales revenue projections were raised based on recently proposed rate changes, increasing expected water revenue to about $4,991,000.

On expenditures, staff proposed adding two part‑time seasonal public‑works employees (increasing related FICA and creating about 0.75 FTE net change) using savings from an anticipated reduction in a sales‑tax rebate line item. The general‑fund salary line for part‑time seasonals would double from the placeholder in the packet.

Staff said these adjustments will be reflected in the final budget that returns to the board for approval on May 4.

Next steps: the board will review the updated budget on May 4; trustees asked clarifying questions but did not object to staff moving these numbers into the final packet.