Finance director sets budget hearings, flags insurance premium jump and mismatched FEMA amendment figures

The Finance Director told the board two public hearings to approve the city and school budgets will be held Tuesday, June 9 at 5:00 p.m., and moved several school budget and audit items to that meeting. She said the city received notice of an average 10.5% increase in health‑insurance premiums for 2027; finance staff had budgeted an 8.5% increase and the premium change reduces the previously projected revenue‑over‑expenditure surplus from about $199,000 to roughly $147,000 (a reduction of approximately $52,000).

The director also said she received FEMA correspondence approving a project for roughly $12.89 million but that the amendment paperwork did not match previous material; she asked staff to verify the figures and names before the Tuesday meeting. The board instructed staff to review the FEMA amendment and to include any necessary corrections or clarifications in Tuesday’s material.

On other items, the director reported the city renewed a certificate of deposit at 3.5% with First Commerce and confirmed the proposed tax rate of 1.3667 remains unchanged from last year. Budget amendments to close fiscal‑year gaps and to encumber funds for paving and apparatus repair were flagged for the upcoming board meeting.

Next steps: Finance staff to publish hearing notices, verify FEMA amendment numbers, and bring required budget amendment language to the next meeting.