At the Town of Westlake, financial stability isn’t just a goal, it’s a principle that guides every decision we make. As we develop the fiscal year 2025-2026 budget, we remain committed to long-term planning, conservative forecasting, and responsible stewardship of your tax dollars. This is the first of several communications we’ll be sharing to help keep you informed throughout the entire process.
Goals for this budget include:
Advancing our Town toward best practices
Preparing for future development
Ensuring our budget surplus for Capital Improvement Plan (CIP), equipment replacement, and lessening the debt need
Cutting departmental expenditures by at least 3%
Adjusting the benefit package to industry standards
Discussing CIP and Service Level Adjustments (SLAs), fund balance, and tax rate
Here’s how our approach is delivering value today and preparing us for a successful tomorrow.
A Strategic Approach to Financial Stability
Westlake’s budgeting philosophy is built on forward-thinking and conservative planning. This strategy gives us the flexibility to adapt while safeguarding essential services, even in uncertain times. We take a measured approach to both revenue and expenditures:
On the revenue side, we forecast conservatively, basing estimates on historical trends and known factors, not optimistic assumptions.
On the expenditure side, we plan for the high end, knowing that costs will likely rise due to inflation, new contracts, or expanded services.
We also maintain strong reserves. We are required to have an annual fund balance of 180 days in our general fund expenditures. This gives us a vital cushion to continue operations in the event of a disruption and positions us to act on unforeseen opportunities or emergencies.
Before finalizing both expenditures and revenues, we are seeing a 2% decrease in expenditures compared to last year, while our revenues remain flat. This is after funding capital items and SLAs.
What We’ve Done So Far
Our fiscal year 2025-2026 budget process began with the development of a CIP, a five-year roadmap outlining large-scale infrastructure needs, including roads, buildings, water, and sewer systems. Staff worked closely with Council to set minimum fund balances in most funds. Each department evaluated its assets and service goals to determine what’s needed to maintain quality and support future growth.
With those major projects identified, the staff has:
Reviewed and adjusted departmental operating budgets
Submitted SLAs for any new or expanded programs
Aligned Westlake Academy’s budget by moving shared costs directly under the school’s oversight for greater transparency and control
We also acted quickly in response to potential legislative changes that could have limited our ability to issue debt. Because our CIP was already in place, we proactively issued $9.5 million in bonds to fund top-priority projects such as:
Expansion of Westlake Academy’s Arts & Sciences building (with help from a $3 million donation)
Water infrastructure repairs and upgrades
Land acquisition and design work for a second water tower to serve future development on the west side of Town
These projects ensure Westlake’s infrastructure is equipped to handle our continued growth for many years to come.
How This Benefits Westlake Residents
Our approach directly benefits residents by ensuring:
Service continuity and reliability, even in a downturn
Infrastructure that keeps pace with growth, without sudden tax spikes
Transparency and accountability in how public dollars are managed
Protection of Westlake’s character and autonomy in the face of state-level challenges to local control
By preparing in advance, we’ve positioned ourselves to fund essential improvements without compromising day-to-day operations or raising unnecessary debt burdens.
What’s Next: From Planning to Adoption
We’re currently projecting $33 million in total revenue for fiscal year 2025-2026, including sales and property taxes, fees, interest earnings, and transfers. This funding will cover operations, capital projects, service level adjustments, and debt obligations for the upcoming fiscal year.
Here’s what’s ahead:
July: We receive the certified property tax roll, which is the official valuation of all real property in Westlake
August: We will calculate and present the required property tax rates, including:
The No-New-Revenue Rate
The Voter-Approved Rate
The proposed rate for Council’s consideration
The De Minimus Rate
Council votes on the maximum proposed rate for the public hearing, public notice
September: Budget and Tax Rate Public Hearings and budget, revenue ratification, and tax rate votes
At that point, we’ll share a detailed breakdown, including examples, comparisons to other cities, and charts, so you can clearly see what’s being proposed and how it impacts you.
Westlake’s financial strategy is proactive, transparent, and aligned with our community’s values. We’ve already:
Prioritized long-term capital needs
Balanced day-to-day operations
Taken decisive steps to protect our future infrastructure
And remained alert to legislative changes that could impact our autonomy
As we head into the next stages of the budget process, our goal is to keep you engaged and informed. Together, we’ll continue building a community that’s strong, sustainable, and future-ready. This is what makes Westlake distinctive by design.