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City Council Members, Citizens and Others: It is my privilege to present the 2026 budget for the City of Gem Lake. This budget, as adopted by the City Council identifies how the City's resources will be spent in 2026. This budget is the City's financial management plan and has been designed to be responsive to public service demands and for carrying out services over the coming year. The 2026 budget is the result of sound financial management and affords some protection for the future operation of the City. It is the City's intent to submit and manage the budget in the most open and straightforward manner possible, which will allow consistent and careful management of all resources. The City continually faces many challenges, which draw upon the resources and value judgments of all of us. The City's budget focus has been to maintain services provided and existing infrastructure. Public safety remains a priority for the City for 2026, as the City has included increases to both the police and fire budgets. The road maintenance budget includes funds for a possible seal coat project to help the roads last longer. Finally, $20,000 is being budgeted to fund future capital projects in the City. On the revenue side, the largest revenue source is property taxes, which make up almost 89.1 % of total revenues for the City. The 2026 property tax levy is decreased 0.404%, while the City's tax capacity increase 4.152%, which results in a tax rate of 36.874% compared to 38.440% in 2025. Based on this most residents would see an decrease in their City's property tax bills from 2025 to 2026. As 2026 unfolds, the City is well positioned to meet current and future challenges through sound fiscal management. It is our hope this budget will meet the expectations and need of Gem Lake residents. My sincere thanks are extended to the City Council for their time and effort in the preparation of this document. Respectfully, Tom Kelly City Treasurer