5/12/2026 Board of Directors - Study Session

The City of Fort Smith Board of Directors held a study session on May 12, 2026, focusing primarily on fiscal policy regarding reserve funds and a potential change in the city's form of government. The board discussed the current contingency reserve exceeding the recommended 20%, with some members advocating for using excess funds for debt reduction or rebates to citizens, while others emphasized maintaining reserves for capital equipment and long-term projects. The first quarter financial report showed improvements in fund balances and debt service coverage ratios across various city funds. The session also included an extensive discussion on transitioning from a city administrator to a mayor-council form of government. Legal counsel outlined the petition process, election timing, and statutory requirements. Board members debated whether to place the measure on the November 2026 or 2027 ballot, weighing the need for public education and consensus against the urgency expressed by petitioners. A motion was made to consider placing the question on the November 2027 ballot, with plans to vote on it at the next regular meeting. The session concluded with announcements about upcoming strategic workshops and educational events related to municipal governance.