Troy City Council tables final budget for 2026-2027 fiscal year

By Charles Bolinger

Editor • During a quick meeting, there were no ordinances or resolutions on the agenda to pass, the Troy City Council tabled the city’s final draft of its balanced budget for the 2026-2027 fiscal year, which starts May 1. Councilman Sam Italiano was absent.

Council members wanted to wait until after a closed meeting on April 6 to discuss salaries before approving the final draft of the budget as there was no immediate need to vote. 

The city’s general fund, as of Feb. 28, 2026, had $6,481,493, versus $5,672,412 in it on Feb. 28, 2025. That’s a difference of $809,081.Total property tax revenue is $2.2 million for the new fiscal year, a 4.67% jump from last year’s $2.1 million.

While most of the tourism funds did not change from the second budget draft approved last month, some city numbers did. The city will spend funds for the following – fireworks for this year’s Independence Day show ($86,000); website design ($10,000); new Christmas decorations ($25,000); and the rest for city-approved promotionals.

All of the non-profit agencies who requested tourism grant funding this year and for next year were rolled back to their 2025-2026 amounts to keep the budget balanced, finance committee chairman Nathan Henderson told the mayor and board last month.

City Administrator Jay Keeven requested permission to add money from the general fund to the Troy-Maryville-St. Jacob-Marine Chamber of Commerce’s tourism request. He asked for $10,000 for the chamber’s rodeo; $5,000 for the chamber’s First Friday events, which start May 1; and $5,000 to the chamber’s overall budget. He reminded the council that this money is not to come from the tourism fund but instead, general revenue. 

Keeven also told the mayor and council that he’s adding $400,000 into the city’s capital improvement fund. The fund was supposed to comprise $584,305 but $240,000 was deducted to pay for the demolition of 107 N. Main St. 

Keeven doubled the money in the sewer fund to $400,000 for manhole and sewer main lining to reduce inflow and intrusion (I&I). Part of the reason was due to a set-up fee involved and the illogic of paying it twice when it’s not necessary. 

He asked for another $50,000 to be added to the sewer budget for a third-party contractor to come in to help with the sewer treatment plant’s inventory regarding PFAS. More will be discussed on this at the next city council meeting. 

Some budget highlights now that it is approved include an 18.57% rise in police pension revenue from $533,000 this year to $632,000 for next year.

The city’s three percent cannabis tax is forecast to bring in $115,000 versus the $125,000 it brought in this year, or an eight percent tumble. However, the city’s video gambling tax is on target to rake in $25,000 more for the new year, at $375,000, or a 7.14% hike.

The city’s business district revenue is anticipated to rise 48.31% over last year’s $1.625 million, or to $2.41 million. Expenses match for the new year and include the second phase of the Market Street streetscape for $1.2 million, burying power lines for $242,000 and demolishing the house at 107 N. Main St. for $350,000. 

Capital projects from this year included replacing one of the street department’s trucks for $32,000; equipping two police squad cars with new audio/video equipment for $161,450; $600,000 for the second phase of Market Street’s water main replacement; Cheshire water main for $350,000; and East Market Street sewer for $360,000. In sum, there were $2.495 million worth of capital projects. 

The council will vote on the budget at its next meeting, which will be April 20 at 6:30 p.m. in city hall, 116 E. Market St.