Sherwood Quarterly Budget Committee - June 4, 2026

The City of Sherwood held its Quarterly Budget Committee meeting on June 4, 2026, focusing primarily on financial updates, budget projections, and capital improvement projects. City staff presented a detailed review of the general fund, enterprise funds, and URA (Urban Renewal Agency) funds, highlighting revenue shortfalls due to slowed development and state shared revenue declines. The committee discussed labor contract settlements, potential new revenue sources including fees and levies, and the impact of infrastructure constraints on growth. Capital projects such as the pedestrian bridge, tannery site cleanup funded by a $5 million EPA grant, and public works building were reviewed, with some projects experiencing cost overruns due to unforeseen issues. The committee also addressed the need for careful budget management, potential slowing of new projects, and ongoing efforts to secure federal and state funding. No new contracts or vendor selections were reported, but the discussion emphasized fiscal prudence and strategic planning for future capital and operational expenditures.