Latest news with #FiscalYear2026
Toronto Star
10 hours ago
- Business
- Toronto Star
Centrist Republican Rep. Don Bacon of Nebraska won't seek reelection
Rep. Don Bacon, R-Neb., winks during a House Committee on Armed Services Chair hearing on the Department of the Army's Fiscal Year 2026 posture, Wednesday, June 4, 2025, on Capitol Hill in Washington. (Photo/Jacquelyn Martin) JM flag wire: true flag sponsored: false article_type: : sWebsitePrimaryPublication : publications/toronto_star bHasMigratedAvatar : false :
Yahoo
14 hours ago
- Business
- Yahoo
Chicopee's next budget is 6% hike from this year. Here's where spending has increased
CHICOPEE — The Chicopee City Council approved its 2026 budget: $276.2 million, 6.45% up over the current year. On Thursday night, heads of six departments in the city, including Mayor John Vieau, schools Superintendent Marcus Ware and Sharyn Riley, the auditor, discussed their planned spending in the upcoming year. The mayor's office was cleared for $563,669.96, a 27% increase from this year's spending. Part of the reason for the hike is because the mayor wants to take a thorough look at more city departments — there is about $40,000 set aside for 'consulting services.' 'We recently used consulting for (the Human Resources Department), and I next want to use it for (Information Technology),' said Vieau. In December, the mayor hired an independent consultant to investigate the HR department, which dealt with a host of problems in the years leading up the investigation. In April, the city appointed a new director for the department. Vieau also said that he would be pausing the city's search for an economic development director, because of changes to grant funding provided by the federal government. The city has not yet received its Community Development Block Grant from U.S. Housing and Urban Development and is looking for other federal grants to help pay for the position. 'We're hopeful to fill this position next year,' he said. Sharyn Riley, city auditor, said she looked for ways to creatively cut spending for the upcoming fiscal year. The Auditing Department was approved for $1.46 million, a nearly 1% decrease from this year's spending. 'I think I'm being as frugal as I can be,' Riley said at the hearing. The School Committee's portion was approved for $131.6 million, a 2.2% increase from the current year. The budget went up by $5 million since fiscal 2025. Chapter 70A funds, which is the state's money for local schools, went up by $6 million, and the city's contribution is set to increase by $1.3 million. 'City costs went up,' said Ware, the superintendent. 'Transportation gets more expensive, and the needs of our students have increased.' About 75% of the district is low-income. He explained a big focus of the upcoming budget was around vacancies, of which there are over 100 open teacher positions. Ware also said the district was looking at other ways to get funding, including being reimbursed by the state Education Department for special education, especially because COVID relief funding expired last fall. The Department of Public Works' enterprise fund, which includes combined sewer overflows, pretreatment and utility services, has the second highest slated funding behind the schools, at $25.79 million. The Human Resources Department falls in third place, with $23.6 million on the budget for fiscal 2026, where medical insurance accounts for its biggest cost. The Chicopee Police and Fire departments' total budgets each increased from fiscal 2025. The Police Department's spending increased by 22.2%, from $15.2 million to $18.6 million, because of the cost of technology and to pay for increases in collective bargaining contracts. The Fire Department increased by about 1%, going from $14.5 million to $14.6 million. Westside, CSX have federal money for bad Memorial Ave. rail crossing, but who will care for it over the long haul? Companies admit construction errors at Westfield runway project, will pay $1.37M Holyoke police website down, but it's not hacked ... just an expired credit card Holyoke schools, union at odds over 'exit assurances' during transition to local control Read the original article on MassLive.
Yahoo
4 days ago
- Business
- Yahoo
AeroVironment shares fall despite earnings beat, strong guidance
-- AeroVironment Inc (NASDAQ:AVAV) reported fourth-quarter earnings that surpassed analyst expectations, but its shares tumbled 3.3% in after-hours trading despite the company providing robust guidance for the upcoming fiscal year. The defense technology company posted adjusted earnings per share of $1.61 for the quarter ended April 30, beating the analyst consensus of $1.40. Revenue came in at $275.1 million, significantly above the $242.14 million estimate and up 40% YoY. AeroVironment's fourth-quarter net income rose to $16.7 million, or $0.59 per diluted share, compared to $6.0 million, or $0.22 per diluted share, in the same period last year. However, results were negatively impacted by an $18.4 million non-cash goodwill impairment charge related to its Uncrewed Ground Vehicle business unit. For fiscal year 2026, AeroVironment provided guidance above analyst expectations. The company forecasts revenue between $1.9 billion and $2.0 billion, and adjusted earnings per share of $2.80 to $3.00. "AeroVironment finished out fiscal year 2025 with a remarkable fourth quarter, which included record revenue, significantly higher profits and a robust backlog nearly double that from fiscal year 2024," said Wahid Nawabi, AeroVironment's chairman, president and CEO. The company reported record fiscal year bookings of $1.2 billion and a funded backlog of $726.6 million as of April 30, up from $400.2 million a year earlier. Despite the strong results and outlook, investors appeared to react negatively to the earnings release, with shares falling 3.3% in after-hours trading. Related articles AeroVironment shares fall despite earnings beat, strong guidance FedEx shares drop in afterhours on soft guidance Carnival Corp lifts annual outlook after strong Q2 print Sign in to access your portfolio
Hindustan Times
11-06-2025
- Business
- Hindustan Times
Amid LA riots, Trump's HUD chief stuns Democrats with major anti-migrant moves
The US House Committee on Appropriations held budget hearings on June 10, as part of the Fiscal Year 2026 appropriations process. During the Department of Housing and Urban Development's hearing, priorities like affordable housing, homelessness programs, H.U.D.'s response to housing market challenges were addressed. Scott Turner, US Secretary for Housing and Urban Development answered questions posed by members of the committee. Watch the full hearing here.
Yahoo
11-06-2025
- Business
- Yahoo
San Diego City Council approves 2026 fiscal year budget
SAN DIEGO (FOX 5/KUSI) — The highly scrutinized San Diego city budget for the 2026 fiscal year has finally been passed. After facing more than a quarter of a billion-dollar shortfall, city council voted to approve an amended budget, all while saving some of the key programs and services Mayor Todd Gloria chose to cut. There has been passion and heated opinions from the public for months, including on decision day Tuesday when city council was set to approve an amended budget. 'Investing in them tell San Diegans they matter. Mayor Gloria's budget tells San Diegans that only some of them matter. It cuts funding for libraries, parks and rec centers, youth programs, the arts, equity offices and climate justice initiatives,' said Noah Yee Yick, researcher and policy advocate at the Center on Policy Initiatives. Councilmembers presented amendments to Gloria's final budget, saving several items on the chopping block that drew heavy criticism from the community. Fire pits have been saved due to county funding. Monday hours will be available at more than a dozen libraries and all rec centers hours will be restored. In addition, the Office of Race and Equity and $450,000 in funding for arts, culture and community festivals nonprofits grants will be restored. Access will not be lost to Lake Murray and Lake Miramar and public restrooms near the beaches and Balboa Park will remain open. After Gloria largely blamed the public for not passing the most recent proposed tax increase, the money for these restorations had to come from somewhere. That includes cutting administrative positions totaling $3 million, plans to start charging for parking at Balboa Park and a newly approved monthly trash fee, which is expected to generate $80 million annually. 'With that behind us and those revenues that we can count on for the next year, it is allowing us to do the extraordinary changes that our residents, our constituents, our neighborhoods, need and demand and deserve,' said Council President Joe LaCava. Even with the budget passing with a majority 7 to 2 vote, the city's independent budget analyst acknowledges how narrow the margin is for any error. 'If we do hit an economic downturn, even if all of these good things, these new revenues come to fruition, we will be faced with the need for immediate cuts,' Charles Modica said. The budget goes into effect on July 1. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
