Summary
The City projects an FY26 General Fund balance of $638 million, or 10.0 percent of revenues, following a strong FY25 closeout driven by higher-than-expected tax revenues, and underspending in key areas like employee compensation. While FY26 Tax projections have been adjusted upward—particularly from BIRT—volatility remains, and spending projections increased due to collective bargaining agreements and a planned $91 million allocation to a renewed Federal Funds Reserve. The report also highlights mixed performance across departments, with 84.6 percent of full-time General Fund positions filled and over 70 percent of tracked performance measures on pace to meet annual targets.