04.07.26 Finance Committee Meeting of April 07, 2026

The Finance Committee meeting held on April 7, 2026, focused primarily on procurement-related financial matters including the annual update and recommended increases to the citywide schedule of fees and service charges and development impact fees for fiscal year 2026-2027. Staff recommended a 2.2% increase in fees based on the Consumer Price Index (CPI), and a 2.8% increase in development impact fees, which was approved by the committee to be recommended to the city council. The discussion included detailed presentations on fee structures, outreach efforts to local business and development groups, and the financial status of impact fee funds, notably a significant traffic impact fee balance influenced by a large Amazon development. The committee also discussed the challenges of financing future infrastructure projects and the importance of strategic planning. Additionally, the committee reviewed and recommended moving forward with a biennial (two-year) budget cycle to improve long-term planning, resource allocation, and operational efficiency, with the ability to make mid-year adjustments as needed. The meeting concluded with unanimous committee approval to recommend these financial and budgetary measures to the city council.