FY 2027 budget squeeze preview
Summary
The finance director warned that cost escalations make next year's general fund budget a real challenge, and staff are planning creative uses of FY26 surpluses to balance it — the same approach used in 2024 and 2025.
At a glance
- Total mentions
- 3
- Last 30 days
- 0
Last discussed Aug 10, 2026.
Impact analysis
A projected FY26 general fund surplus of under $500K will be tapped to help balance the FY27 budget.
Residents if services hold steady without tax or fee hikes.
Milford property owners would see a modest tax bill increase.
Mentions & discussions (3)
City Council - Aug 10, 2026
Only $632,000 in property taxes is uncollected, with just $247,000 from prior years — historically low. Council changed the reporting format to show total outstanding receivables more transparently.
General - May 12, 2026
The draft FY27 budget includes a 2.5-cent property tax increase (about $300,000) to help close a general fund deficit that runs millions without utility transfers. Growth in assessed value is projected to bring in over $400,000, but council will spend two more workshops deciding where to cut.
City Council - May 11, 2026
The finance director warned that cost escalations make next year's general fund budget a real challenge, and staff are planning creative uses of FY26 surpluses to balance it — the same approach used in 2024 and 2025.
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