Where your tax dollars go: Stillwater's FY2027 budgets by the numbers

The Stillwater City Council, Stillwater Utilities Authority, Stillwater Economic Development Authority, and Stillwater Public Works Authority each adopted operating budgets for fiscal year 2026-27 Monday evening, with the four governing bodies conducting back-to-back special meetings following the regular city council session.

State law requires Oklahoma municipalities to adopt a balanced budget — meaning projected expenditures cannot exceed projected revenues — and each fund within a budget must balance independently. Across all city funds, the FY2027 budget totals $163,706,173 in resources.

City of Stillwater general fund

The general fund, which covers day-to-day city operations, is the largest single fund at $67,069,522 in both resources and expenditures. Sales tax is the general fund's biggest revenue source at $31,875,000. Use tax adds $5,700,000, and other tax revenue contributes $2,005,500. Transfers in from other city funds and the Stillwater Utilities Authority account for another $22,377,575.

Three other major city funds reflect distinct areas of investment:

The Transportation Sales Tax Fund, supported by a dedicated sales tax, carries $37,083,459 in resources — the second-largest fund in the city budget — and is directed toward road and transportation infrastructure.

The Debt Service Fund, used to pay the city's outstanding bond obligations, carries $2,808,067 in resources against $2,634,376 in expenditures.

The City Capital Fund, which supports major one-time capital purchases and projects, carries $2,647,600 in resources and $1,855,000 in expenditures.

The Visitor Tax Fund — generated by the city's hotel tax and dedicated to tourism and visitor-related purposes — carries $2,454,619 in resources and $2,000,000 in expenditures.

Mayor Will Joyce thanked city finance staff and department directors for their work assembling the budget, which had already cleared two public hearings and a prior council presentation without changes before Monday's vote.

"Hopefully the short time we spend on it tonight is not seen as a reflection of the importance that everyone here at the city holds for the annual budget," Joyce said.

The council adopted Resolution CC-2026-9 on a 5-0 vote.

Stillwater Utilities Authority

The SUA, which manages Stillwater's electric, water, wastewater, and waste management services, adopted its FY2027 financial plan with $334,270,123 in total resources and $117,932,090 in total expenses and transfers across all funds.

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The SUA operating fund — the primary fund covering day-to-day utility operations — carries $80,207,143 in resources and $76,351,774 in expenses and transfers, leaving an ending balance of $3,855,369. Electric revenue is the dominant income source at $61,506,900, with an additional $4,700,000 flowing into the electric rate stabilization fund. Water revenue totals $22,720,000, wastewater $9,205,000, and waste management $9,158,000.

The SUA's balance sheet also reflects significant reserve funds: the water reserve fund carries $11,000,000, the wastewater reserve $7,000,000, and the water capital fund $34,772,612 at year end.

Trustees adopted Resolution SUA-2026-1 on a 5-0 vote.

Stillwater Economic Development Authority

SEDA, which manages the city's economic development programs and tax increment financing districts, adopted a budget with $6,648,048 in total resources and $3,757,900 in total expenses and transfers across all funds, leaving a combined ending balance of $2,890,148.

SEDA's general operating fund carries $359,650 in resources — drawn entirely from transfers in — and expends all of it on operating costs, ending at a zero balance as required.

The Destination Marketing Fund, which supports tourism and promotion efforts, is the authority's largest operational fund at $2,084,077 in resources and $1,260,000 in expenditures, with an ending balance of $824,077 carried forward.

Tax Increment Financing District No. 3 — the Stillwater Downtown/Campus Link district, established in 2018 and authorized through 2043 to reinvest up to $32.5 million in ad valorem and sales tax increments into the downtown and Corridor Redevelopment Area — carries $2,125,974 in resources and $1,268,250 in expenditures, with an $857,724 ending balance.

Tax Increment Financing District No. 5, also part of the Downtown/Campus Link plan and established in 2022, carries $420,000 in resources, all of which is allocated to debt payments. The district borrowed $7 million to fund development financing assistance and is currently in debt service.

Trustees adopted Resolution SEDA-2026-2 on a 5-0 vote.

Stillwater Public Works Authority

The SPWA, a legal entity held by the city for certain governmental purposes, adopted a budget carrying a $106,094 beginning balance with $0 in projected revenues, expenses, or transfers for fiscal year 2026-27. The authority has no active financial obligations this year, leaving the full $106,094 as the projected ending balance.

Trustees adopted Resolution SPWA-2026-1 on a 5-0 vote.