The Edmond City Council held a special meeting on May 12, 2025, to discuss the proposed budget for the fiscal year 2025-26, with a significant focus on the city's debt management and financial planning.

During the meeting, city officials presented a detailed analysis of the city's outstanding debt, which currently stands at approximately $821 million. This figure reflects a reduction from the original principal of $903 million, attributed to the payoff of one of the bonds. The total estimated interest on this debt is projected to be around $423 million, bringing the overall debt burden to about $1.2 billion when including all enterprise and governmental funds.

The budget for debt service in the upcoming fiscal year is set at $51 million. This includes $12 million allocated for capital improvements funded through the governmental funds, which are expected to generate about $17 million annually. The remaining debt service is primarily associated with electric and water services, with electric debt totaling around $22 million and water debt at approximately $37 million.

Council members also discussed the city's reserve funds, which currently sit at 7%, below the target goal of 10%. Achieving this goal would require an additional $880,000 for each percentage point increase, prompting discussions on potential spending cuts to bolster reserves.

The meeting concluded with expressions of gratitude among council members for the thorough preparation and analysis provided, highlighting the collaborative effort in addressing the city's financial strategies. The council will continue to evaluate the budget and explore options to enhance financial stability in future sessions.