The City Council conference focused on the proposed Fiscal Year 2027 budget for the City of Norman, covering general and special revenue funds. Key topics included a comprehensive overview of budgetary policies, the financial planning process, and the city's adherence to legal requirements. The presentation detailed the allocation of resources, revenue projections, and expenditure controls, specifically noting the reliance on sales tax and the impact of holding personnel costs flat. Additionally, the Council reviewed reserve fund policies, including emergency and rainy-day funds, and discussed economic indicators such as housing starts and population-to-employee ratios.
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The council held a special session to discuss the fiscal year ending 2027 capital improvements program budget and the 2027 through 2031 capital improvements plan. Key discussion topics included the allocation of funds for street maintenance, storm water drainage, park amenities, tree programs, IT infrastructure, and fleet replacements. The council also explored the current status of the city's vehicle fleet and equipment, the regional transit authority's funding requests, ADA compliance initiatives, and GIS mapping updates.
Jan 15, 2026·Board meeting
Finance Committee Meeting
The Finance Committee meeting agenda included a discussion regarding the midyear budget review for Fiscal Year 2025, presented by the budget manager. Key points discussed included the lower-than-estimated revenue and expenses for FY2025, resulting in an ending fund balance slightly below budget, and outstanding purchase orders reserved in the encumbrances fund. The discussion also covered the impact of the dedicated 7/10 of a percent sales tax revenue for capital projects, and adjustments needed due to increased subsidies for the PSST fund and higher-than-anticipated health claims in the insurance fund. Projections for Fiscal Year 2027 were presented, including a preliminary assumption of a 1% increase in sales tax revenue and a plan to freeze expenses to rebuild the dwindling fund balance. Additionally, the committee addressed revenue volatility in fines and forfeitures compared to pre-COVID levels and discussed future consideration for a wastewater rate increase to maintain debt coverage ratios for enterprise funds.
