Town of Westlake - File #: 25-195

• File #: 25-195
• Version: 1
• Type: Report
• Status: Agenda Ready
• File created: 7/8/2025
• In control: Town Council/Board of Trustees
• On agenda: 7/15/2025
• Title: Town of Westlake FY 25-26 Budget Work Session (Cayce Lay Lamas, Finance Director)

Date	Ver.	Action By	Action	Result
7/15/2025	1	Town Council/Board of Trustees

TOWN STAFF REPORT RECOMMENDATIONS

title
Town of Westlake FY 25-26 Budget Work Session (Cayce Lay Lamas, Finance Director)

body
STAFF: Cayce Lay Lamas, Finance Director

BACKGROUND:
The Town of Westlake is required to adopt a budget annually before its fiscal year end on September 30. Additionally, the Town of Westlake levies an ad valorem tax on all real property to provide funds for the adopted budget; the tax rate must also be adopted prior to September 30.
The purpose of the work session is for staff to provide Council a preliminary picture of the Town's FY2026 budget and discuss potential impacts or changes relating to fund balance policy, capital improvements, service level adjustments, personnel costs, and the property tax rate.
DISCUSSION:
The draft budget for FY2026 anticipates total revenues of $33.9 million, which is an increase of 2% over the FY2025 adopted revenues. Draft expenditures total $28.5 million, which is a decrease of 4% from the FY2025 adopted expenditures. The draft budget reflects a potential total contribution to fund balance/retained earnings of $5.4 million and is exclusive of the capital improvement plan projects or service level adjustments which total $365,500 and $1,270,000 respectively. Totals reflect activity across all funds, broken down as follows:
FUND
REVENUES
EXPENDITURES
CONTRIBUTION (USE) OF FUND BALANCE
ALL FUNDS
$33,953,768
$28,534,480
$5,419,288
General Fund
16,484,175
13,307,075
3,117,100
4B Sales Tax/EDC
3,775,000
2,626,128
1,158,872
HOT/Visitors Assoc.
631,000
547,500
83,500
Public Imp. Dist.|1010|5,000
(5,000)
Cemetery
57,800
40,100
17,700
Sales Tax Debt
1,943,728
1,943,728|1010|Property Tax Debt
1,475,631
1,475,631|1010|Town Capital
75,000|1010|75,000
Academy Capital
75,000|1010|75,000
Arts & Sciences*
50,000|101010|Utility Fund*
8,066,500
7,279,384
787,116
Utility Debt
1,319,934
1,319,934|1010| *The Arts & Sciences and Utility funds exclude expenditures reflecting the full amount of the 2025 certifi...