Finance, Utilities, and Rules Committee - October 19, 2026

The City of Carmel Finance, Utilities, and Rules Committee met on October 19, 2026, to consider a proposed ordinance on nonprofit organizations receiving city support and a 2027 property-tax resolution. Corporation Counsel cautioned that the ordinance’s broad definition of affiliated entities and proposed city authority over nonprofit board membership could create legal and practical problems, including requiring organizations to amend their articles of incorporation. Members supported reporting requirements in principle but questioned the need for the ordinance. The committee unanimously recommended sending the original ordinance, D-27772-25, to the full council with a negative recommendation; no contract awards or other procurement actions were identified.

The committee unanimously recommended approval of resolution CC-10-05-26-02, which sets the 2027 property-tax rate at 0.7783, unchanged from 2026, and recommends allocation of the 2027 levy. Officials reported net assessed value had decreased about 1.6%, with property-tax collections projected to decline from approximately $92 million to $90 million. The budget was described as fully funding next year’s operations, with local income tax revenues helping offset lower property-tax revenue; prioritizing the operating levy was expected to retain about $3 million in local income tax distributions, while requiring general-fund dollars to help cover debt payments. The resolution was also described as authorizing temporary interfund borrowing for cash-flow purposes.