The committee voted 2-1 to recommend a $2.565 million borrowing plan for 2026 capital projects, aiming to keep the debt-service tax levy flat. Members also dug into looming assessment compliance issues and a shift to outsourced IT staffing tied to a retirement.
Key Decisions
Committee recommended (2-1) the city’s proposed $2.565 million 2026 borrowing plan, built around a 10-year payoff and a stated goal of no increase in the debt-service tax levy—an approach that matters because it shapes both project timing and what taxpayers feel (or don’t feel) on the levy line.
Staff reported the city’s 2025 assessments are at 86% of full value—outside the state compliance range—triggering a required full revaluation by 2029, with an open question: do it sooner to rebalance who pays what, or wait until the deadline.
City plans to outsource one full-time IT position after a retirement and move to a hybrid model; staff said the three-year contract with All In Technology should improve cybersecurity and modernization while saving $50,000+ per year.
Public Input
No public comments or communications recorded for this meeting.
Agenda Items
Discussion With Representatives of Robert W. Baird and Company, Regarding Borrowing for 2026 Budgeted Capital Projects
The committee reviewed the city’s financial position and the proposed 2026 capital borrowing plan with the city’s financial advisor. The plan discussed was $2,565,000 total, including $2,215,000 supported by the tax levy and $350,000 supported by the Electric Utility, with a 10-year structure and an estimated 4% interest rate (capped at 4.5%). The committee also talked about “wants versus needs” and noted the borrowing amount could be reduced if projects are canceled—flexibility that can cut both ways if priorities aren’t clearly explained to the public.
Consideration of Recommendation to City Council Regarding Parameters Resolution for 2026 Borrowing
Passed 2-1
The committee voted to recommend the proposed borrowing parameters to the City Council. This is a key gatekeeping step: while the Council makes the final call, a split committee vote signals there’s not full agreement even at the early stage. The recommendation covered the borrowing plan “as presented,” tying the committee to the overall package and its promise to keep the debt-service levy flat.
Staff said the city’s 2025 assessments are at 86% of full value, which is outside the required compliance range, and a full revaluation is required by 2029. With the current assessor contract ending in 2026 and an RFP coming, the committee discussed whether to do a market revaluation sooner to rebalance the tax burden or wait until the deadline. This matters because assessment shifts don’t change the total levy by themselves, but they can change how that bill gets divided between properties.
In response to an upcoming retirement, the city plans to outsource one full-time IT position and move to a hybrid model with one on-site IT professional plus a private vendor. Staff said All In Technology was selected after an RFP for a three-year contract, with expected cybersecurity and modernization benefits and estimated savings of $50,000+ annually. The minutes don’t describe the contract cost or performance measures, which are the details residents typically need to judge whether “savings” are real over time.