Good afternoon President Newbille, Vice President Jordan, and Honorable Members of Council. 

Thanks so much for the opportunity to be here with you today. A couple of weeks ago, we kicked off the budget process together. 

There, we emphasized our shared desire to continue building on and improving the collaborative process we started at the very beginning of our time together back in January 2025.   

Since that time, we’ve been continuously looking at our budget process: what’s working, what we can improve, and how we can make better decisions together for the residents of Richmond.   

I want to thank our City Assessor, Richie McKeithen, CAO Donald, and PFM, as well as the incredible work of our Finance and Budget Teams, for helping lay the groundwork for this conversation.  

Last year, I asked our teams to develop stronger revenue forecasting tools for three key reasons:  

First, we need good information to be able to put our fingers on the financial trends and make the best decisions that we can.    

Second, the budget is fundamentally a partnership between the Administration and Council. That partnership is stronger when we are all working from the same set of facts.  

Third, we’ve got to be able to look beyond a single budget year so that the conversations we are having, and ultimately the decisions we are making, support the city’s long-term financial health.    

Today is a next step: we’re bringing more clarity to the process by sharing our revenue forecasts and laying out some of the significant drivers and decisions that are before us.     

What we’ve heard today is that we are entering a different fiscal environment.    

The tax assessor’s presentation laid out the timeline and impacts of the new assessment calendar, and laid out a revenue projection that was much lower than I, and I imagine many of you, were expecting when we were considering 18 months of presumed growth.  

As a city, we face operational realities such as debt service obligations, personnel and benefit costs, and the need to prioritize our workforce as we continue to compete with surrounding local and state government, as well as the private sector.  

This is all happening against the backdrop of a federal government that is creating volatility for local government funding, and leaving more and more for us to solve on our own.  

As we navigate those realities, I want to be clear about the commitments I am bringing into this budget process: honoring our workforce, pursuing economic development, keeping families safe and thriving, and improving service delivery remain some of my most important priorities.  

Our goal in sharing this information is simple - to help all of us – the administration, Council, and the public, have a clearer picture of our fiscal outlook as we head into budget season.   

My hope is that this shared understanding will help us craft a budget that balances our priorities and needs, while protecting the city’s long-term fiscal health.   

In closing, there are real challenges and real opportunities ahead-- and it means our partnership and our shared understanding of our financial realities are more important than ever.  

I am looking forward to your discussion today, and the questions it raises for you, and to ongoing conversations as we embark on the FY28 budget making process together.   

Thank you for your service.