ITEM TITLE:
#25-56 - Adopting the 2026 Budget for the City of Valdez and Appropriating Monies for that Budget
SUBMITTED BY: Jordan Nelson, ACM/Finance Director
FISCAL NOTES:
Expenditure Required: $72,163,633.11
Unencumbered Balance: $72,163,633.11
Funding Source: $73,030,783.11
RECOMMENDATION:
Approve
SUMMARY STATEMENT:
This resolution formally adopts the 2026 budget.
The 2026 Budget appropriates $72,163,633.11 on revenues of $73,030,783.11. The 2026 budget also reallocates $9,325,127.00 in previously appropriated funds for capital projects and major maintenance. The 2026 budget increases overall fund balance in the Permanent Fund with an investment of $867,500.00. The 2026 budget does not require additional appropriations from unrestricted unassigned funds.