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Home My WebLink AboutNOVEMBER 18, 2025 SPECIAL FORMAL SESSION MINUTES ;p ayeP�,ae� ��ti �9fs""�sy 4R+ARky Of4 O, OUR NET\ON VIRGINL4 BEACH CITY COUNCIL Virginia Beach, Virginia November 18, 2025 Vice Mayor Rosemary Wilson called to order the CITY COUNCIL SPECIAL FORMAL SESSION in Building 19, Tuesday, November 18, 2025, at 12:02 P.M. Council Members Present: Stacy Cummings, David Hutcheson, Cal "Cash" Jackson-Green, Robert W. "Worth" Remick, Dr. Amelia N. Ross-Hammond, Jennifer Rouse, Joashua F. "Joash"Schulman and Rosemary Wilson Council Members Absent: Michael F. Berlucchi Mayor Robert M. Dyer—Arrived at 12:36 P.M. Barbara M. Henley School Board Members Present: Chair Kathleen J. Brown, Mark Bohenstiel, David Culpepper, Matt Cummings, Sharon Felton, Dr. Alveta J. Green, Kimberly A. Melnyk and Melinda Rogers School Board Members Absent: Michael R Callan Carolyn D. Weems Rose Dwyer 2 MAYOR'S CALL FOR SPECIAL FORMAL SESSION ITEM#77716 "HONORABLE MEMBERS OF CITY COUNCIL In accordance with the Virginia Beach City Code Section 2-21, and by the authority vested in me as Mayor of the City of Virginia Beach,I hereby call for a SPECIAL FORMAL SESSION of the VIRGINL4 BEACH CITY COUNCIL Tuesday,November 18, 2025 12:00 P.M. Building 19,Municipal Complex 2416 Courthouse Drive Virginia Beach, VA The purpose of this SPECL4L FORMAL SESSION is to allow the City Council/School Board Joint Workshop for the Five-Year Forecast. Sincerely, Robert M. Dyer Mayor" cc: City Manager City Attorney City Clerk Deputy City Managers FOIA Officer Communications Office November 18, 2025 4 ti �> City of Virginia Beach �9 y rll �4-r�A{t, jaY:, 9 0�U ° UR '41,11 VirginiaBeach.gov Robert M. "Bobb ' Der MUNICIPAL CENTER,BUILDING 1 Y Y 2401 COURTHOUSE DRIVE MAYOR VIRGINIA BEACH,VA23456-9000 OFFICE:(757)385-4581 CELL.(757)407-5105 ID,ERC5WBGOV.COM November 13, 2025 HONORABLE MEMBERS OF CITY COUNCIL In accordance with the Virginia Beach City Code Section 2-21 , and by the authority vested in me as Mayor of the City of Virginia Beach, I hereby call for a SPECIAL FORMAL SESSION of the VIRGINIA BEACH CITY COUNCIL Tuesday, November 18, 2025 at 12:00 P.M. Building 19, Municipal Complex 2416 Courthouse Drive Virginia Beach, VA The purpose of this SPECIAL FORMAL SESSION is to allow the City Council/School Board Joint Session to receive the Five Year Forecast presentation. Sincerely, Robert M. Dyer Mayor RMD/ab cc: City Manager City Attorney City Clerk Deputy City Managers FOIA Officer Communications Office 3 CITY COUNCIL/SCHOOL BOARD JOINT SESSION FIVE YEAR FORECAST ITEM#77717 12:05 P.M. Vice Mayor Wilson welcomed Kevin Chatellier,Director—Budget&Management Services, Nikki Johnson, Regional Economist—Hampton Roads Planning District Commission and Crystal Pate, Chief Financial Officer— VBCPS. Mr. Chatellier expressed his appreciation to City Council for their continued support and distributed a copy of the presentation, attached hereto and made apart of the record. Mayor Dyer expressed his appreciation to Ms. Johnson, Mr. Chatellier and Ms. Pate for the presentation. November 18, 2025 .slF r •1 X T o it inia C *Ity Five-Year Forecast FY 2026-27 to FY 2030-31 November 18, 2025 Annual Purpose of Five-Year Forecast • Provide an overview of the current financial condition of the city • Forecast revenues and expenditures for select City funds • Review Virginia Beach City School's Operating Fund • Highlight policy decisions that will need School Board and City Council consideration 2 HAMPTON ROADSHAMPTON ROADS PDC$TPO Econom *lc Outlook Presented to: Virginia Beach City Council Nikki Johnson Regional Economist, HRPDC November 2025 s U.S. Real Gross Domestic Product Annualized Percent Change from the Previous Quarter, Q1 2018 — Q2 2025 40% 30% a� c 20% c° t U 10% a� 2.8% 3.6% 3.8% o ■ �■_■ _ ■� ■ ■ ■ ■ ■ 1 ■ 0% 1 _ ■ ■ ,,,,, ■ ■ ■ ■ .� ■ ■ - � ■ N -0.6% _ -10% a -20% -30% Q 1-2018 Q 1-2019 Q 1-2020 Q 1-2021 Q 1-2022 Q 1-2023 Q 1-2024 Q 1-2025 4 Source: Bureau of Economic Analysis, HRPDC. U.S. Monthly Inflation September 2015 — September 2025 10% All Items Core Inflation (Ex. Food & Energy) 8% aD wo c cc t U 6% -- - — ---___ -- --- — _ -- cU a� a� p 4% cc 2% Fed's Target Rate 0% Sep-15 Sep-17 Sep-19 Sep-21 Sep-23 Sep-25 Source- Bureau of Labor Statistics CPI-U, HRPDC. Seasonally adjusted data. 5 Civilian Payroll Employment (Jobs) Index February 2020 — August 2025 109 —United States Virginia Hampton Roads 106 104.4 104.8 04.,, 0 104.4 103 o 102.0 c 100 102.6 N .6 100.1 a) 97 UL x � 94 91 88 85 Feb-20 Feb-21 Feb-22 Feb-23 Feb-24 Feb-25 Source: Bureau of Labor Statistics, HRPDC. Seasonally adjusted data. 6 Federal Civilian Full-Time Employees Employment by Place of Residence, 2023 Area Federal Civilian Employment Share of Total Employment United States 3,735,141 3.3% Virginia 321,516 10.2% Hampton Roads MSA 67,424 11.3% Virginia Beach 17,583 10.9% k Source: U.S. Census Bureau, 2023 ACS 5-Year Table S2409, HRPDC. Hampton Roads Industry Payroll Employment (Jobs) August 2024 — August 2025 Health Care & Social Assistance 3,300 Leisure & Hospitality 1 800 Professional, Scientific, & Technical Services 15400 Private Educational Services 1,000 Local Government State Government Management of Companies & Enterprises ■ Information ■ Transportation, Warehousing, & Utilities Other Services ■ Mining, Logging & Construction Wholesale Trade Real Estate & Rental & Leasing Finance & Insurance Retail Trade -1,500 Administrative & Support & Waste Management -1,700 Federal Government -2,000 Manufacturing -3,200 -4,000 -3,000 -2,000 -1,000 0 1,000 2,000 3,000 4,000 Change in Number of Jobs 8 Source: Bureau of Labor Statistics, HRPDC. Non-seasonally adjusted data. Hampton Roads Civilian Labor Force and Employment August 2019 — August 2025 920,000 882,023 880,000 862,391 866,652 8559383 cu 840,000 > 8389512 836,216 c 800,000 Employment Labor Force 760,000 720,000 Aug-19 Aug-20 Aug-21 Aug-22 Aug-23 Aug-24 Aug-25 9 Source: Bureau of Labor Statistics, HRPDC. Seasonally adjusted data. Virginia Beach Civilian Labor Force and Employment August 2019 — August 2025 245,000 234,397 2359086 235,000 1, 230,711 cu 225,000 22,8,658 2289068 2239520 215,000 205,000 Employment Labor Force 195,000 Aug-19 Aug-20 Aug-21 Aug-22 Aug-23 Aug-24 Aug-25 10 Source: Bureau of Labor Statistics, HRPDC. Seasonally adjusted data. Unemployment Rate August 2018 — August 2025 14% 12% Hampton Roads Virginia Beach sUnited States CO = 10% a� E a 0 8% Q E a� 6% 4.2% 4.3% 4% ' Aug-18 Aug-19 Aug-20 Aug-21 Aug-22 Aug-23 Aug-24 Aug-25 11 Source: Bureau of Labor Statistics, HRPDC. Seasonally adjusted data. Hampton Roads Home Sales September 2016 — September 2025 4,000 3,500 3,465 0 3,000 29499 E = 2,500 29214 2,000 29089 19947 1,500 Sep-16 Sep-18 Sep-20 Sep-22 Sep-24 12 Source: Redfin and HRPDC. Seasonally adjusted data. Virginia Beach Residential Units Sold YTD September 2015 — YTD September 2025 20,000 16,000 15,212 12,170 -a 12,000 c°0 10,344 Cn 81793 9,337 D 8,000 4,000 0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 13 Source: Redfin and HRPDC. Non-seasonally adjusted data. FHFA Home Price Index (HPI) Q 1 2010 - Q2 2025 235 —United States Virginia Hampton Roads 216.1 205 196.5 0 188.0 c 175 167.9 0 166.8 N r- a X 145 136.2 CD 149.8 119.1 115 107.5 85 2010 2015 2020 2025 14 Source: U.S. Federal Housing Finance Agency, All-Transactions house price index, HRPDC. Virginia Beach Median Sales Price of Existing Homes YTD September 2014 — YTD September 2025 $450,000 $400,000 $400,000 $365,000 $350,000 $300,000 $2719449 a $250,000 $2399038 c ii $200,000 a� $150,000 $100,000 $50,000 $0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 15 Source: Redfin and HRPDC. Non-seasonally adjusted data. Hampton Roads Months' Supply of Housing Inventory September 2015 — September 2025 s —United States Hampton Roads MSA 6 a a N cn 4 s c � 3.3 2 2.7 V1 .2 1 .0 0 Sep-15 Sep-17 Sep-19 Sep-21 Sep-23 Sep-25 16 Source: Redfin and HRPDC. Seasonally adjusted data. Federal Shifts & Regional Exposure • Federal job and contract cuts, along with the recent shutdown, are already slowing regional growth and will continue to weigh on the outlook. • Tariff pressures are starting to appear in prices, though the full impact will likely take more time to materialize. • Higher defense spending, especially in shipbuilding, is likely to provide a boost to the Hampton Roads economy. • Net international migration has been the largest contributor of recent population growth in both Virginia Beach and Hampton Roads. • The economy is slowing but stable, though policy and economic uncertainty cloud the horizon. 17 HAMPTON ROADS HAMPTON ROADS PDCI�v rpo Thanks .1 Nikki Johnson Email: njohnson@hrpdcva.gov 18 City of Virginia Beach Five-Year Forecast Kevin Chatellier Director of Budget and Management Services 19 Baseline Revenue Assumptions • Assume all current policies and tax rates remain in place • Estimated growth determined by historical trends • Revenue Sharing Formula between City and Schools extended "as is" 20 Real Estate -Assessment Change 25.0% 20.0% 15.0% 10.0% 5.0% -5.0% -10.0% ,LO .10 ,LO ,tiO ,tiO .10 ,tiO ,LO ,tiO ,LO ,yO .10 ,10 ,LO ,yO ,yO ,tiO ,10 ,LO .LO ,10 ,yO ,LO .10 ,LO ,LO ,tiO ,LO ,10 .10 ,LO ■Residential ■Commercial ■Projections 21 ._..... Real Estate - Disabled Veterans Tax Relief Progra m $120,000,000 $111,990,285--- $100,000,000 / $80,000,000 - - -- — $60,000,000 $40,000,000 $44,612,542 $35,373,086 $20,000,000 — -- - /,..•-�""' $27,710,788 $0 ----- — -- -- - - FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 FY 26 FY 27 FY 28 FY 29 FY 30 FY 31 Disabled Veterans(Actual) Disabled Veterans(Projected) 22 Real Estate - Elderly and Disabled Exemption/Freeze $25,000,000 $20,000,000 $17,206,388 $15,000,000 -- -- $10,000,000 $5,000,000 — $0 FY 16 FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 FY 26 FY 27 FY 28 FY 29 FY 30 Elderly/Disabled Elderly/Disabled Projection 23 Personal PropertyTax Revenue $300,000,000 $220,601,034 $228,751,822 $257,462,191 $250,000,000 $200,000,000 " $150,000,000 $100,000,000 $50,000,000 $0 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028 FY 2029 FY 2030 FY 2031 Budget Actual —Projection 24 Business Professional Occupational License (BPOL) Revenue $90,000,000 $80,000,000 $71,447,567 $77,337,145 $70,000,000 $67,166,505 $60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000 $10,000,000 $0 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028 FY 2029 FY 2030 FY 2031 Budget Actual --Projection 25 General Sales Tax Revenue $120,000,000 $110,000,000 $97,846,775 $100,000,000 r, $90,000,000 — $101,263,558 $80,000,000 $70,000,000 ' $60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028 FY 2029 FY 2030 FY 2031 Budget Actual - Projection 26 C iJ a retie Tax Revenue $12,000,000 $10,000,000 $8,000,000 $6,000,000 $4,945,038 $6,074,935 $4,027,764 $4,000,000 $2,000,000 $0 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028 FY 2029 FY 2030 FY 2031 Budget Actual Projection 27 Restaurant Meals Tax Revenue $140,000,000 $115,398,697 $120,000,000 $129,882,250 $100,000,000 — $111,422,843 $80,000,000 $60,000,000 -- ------ — $40,000,000 $20,000,000 $0 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028 FY 2029 FY 2030 FY 2031 Budget Actual Projection 28 ✓N`.":.. a,..rNr`.6'nw�'z S" Hotel Room Percentage Tax $60,000,000 $45,973,846 $46,409,020 $50,000,000 $40,000,000 $52,233,761 $30,000,000 $20,000,000 $10,000,000 $0 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028 FY 2029 FY 2030 FY 2031 Budget Actual Projection 29 Baseline Expenditure Assu mptions • Personnel • Compensation — assumed 3% increase annually to match "steps" • Virginia Retirement System Rates — assumed 1.5% rate increase every other year. FY 2027 = 20.48% • Health Insurance — assumed 8% employer contribution increase • Vacancies — fully uploaded personnel without reflection of attrition • Operating Accounts • Inflation to both operating and capital accounts assumed (3%) • Increased by amount of known contractual increases (Adobe, Microsoft, Salesforce, ServiceNow, Auto parts/labor, etc.) • Debt Service held flat in the outyears �o Baseline Forecast ---Expenditures Revenue 4% 3.40% 3.49% 3.07 2.75 3% 2.07% 2% 2.56% 2.59% 2.03% 2.04% 1% 0% 1.36% 0% 0% -1% -2% FY 2025-26 FY 2026-27 FY 2027-28 FY 2028-29 FY 2029-30 FY 2030-31 GENERAL FUND FY 2027-28 FY 2029-30 Baseline Revenue ® 1,559,191,910 1,580,373,131 1,620,855,758 1,662,759,114 1,696,512,100 1,731,092,392 Baseline Expenditures 1,559,191,910 1,591,398,587 1,640,245,968 1,696,090,235 1,742,804,867 1,803,683,075 Difference0 (11,025,456) (19,390,210) (33,331,122) (46,292,768) (72,590,682) J2 Salaries and Fringes as Budget Driver YOY Personnel Cost compared to YOY Revenue Growth $45,000,000 $40,000,000 $35,000,000 $30,000,000 $25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000,000 FY 2027 FY 2028 FY 2029 FY 2030 FY 2031 Personnel Revenue Growth-Less SFF 32 Health Insurance as a Future Budget Driver Revenue 64,559,264 63,946,756 63,963,474 64,551,050 70,432,417 73,042,372 741608,048 Expenditures 55,053,210 61,004,675 67,477,586 62,131,086 75,466,998 76,691,810 82,827,155 Difference 9,506,054 2,942,081 2,419,964 Cumulative Fund Balance 34,108,236 37,050,317 33,536,205 35,956,169 30,921,588 27,272,150 19,053,044 IF Employee/Employer Con. 63,771,757 63,514,592 63,578,103 63,872,377 68,997,339 71,202,558 72,963,774 • Employer 78% 78% 79% 80% 82% 82% 83% • Employee 22% 22% 21% 20% 18% 18% 17% 33 Unknowns Excluded from Baseline Scenario • State and Federal Revenue Reductions • Supplemental Nutrition Assistance Program (SNAP) • Human Services — Medicaid • Housing Federal Programs • Impact of Tariffs on price of goods 34 Baseline Forecast= Scenario of a Sustainable Cut GENERAL FUND FY 2027-28 Baseline Revenue 1,559,191,910 1,580,373,131 1,620,855,758 1,662,759,114 1,696,512,100 1,731,092,392 Baseline Expenditures 1,559,191,910 1,591,398,587 1,640,245,968 1,696,090,235 1,742,804,867 1,803,683,075 • - (11,025,456) (11,025,456) (11,025,456) (11,025,456) (11,025,456) - - - (8,341,159) (22,305,665) (35,267,311) (61,565,227) 35 --,. Virginia Beach City Public Schools Five -Year Forecast Crystal Pate Chief Financial Officer 36 Mission, Vision , Core Values • Mission: Empower every student to become alife-long learner and engaged global citizen • Vision : Every student is achieving at maximum potential • Core Values: Put students first, seek growth, be open to change, do great work together, value differences 37 Co pass to 2030 Overview • Unified division-wide direction • Anchored by the VBCPS Future-Ready Profile • Guides strategic investment and decision making • Articulates the division's goals 1. Challenge and support each student to excel and be future-ready 2. Enhance well-being, resilience, and responsibility 3. Value and invest in staff 4. Partner with families and the community to support students 5. Advance organizational excellence 38 Student Performance Highlights • On-time-graduation rate of 96.9% (2025 cohort) • Low dropout rate of 2.2% (2025 cohort) • Exceeded state passing rates in all SOL subjects • Top regional performance in reading, writing, science, and history • In 2024-2025, 35% of high school students enrolled in Advanced Placement (AP) courses and 74% of the AP exams taken by VBCPS students were awarded a score of 3 or higher Student Performance Highlights • Students earned 14,540 industry credentials across 130+ different approved credentialing exams (2024-2025) • 3,200+ students completed approximately 44,000 work-based learning hours, contributing an economic impact of over $550,000 (2024-2025) 40 Five-Yea r- Forecast Overview • Expenditures exceed revenue growth • Projected deficits for FY2027 through FY2031 • Planning tool for long-term sustainability • No balancing solutions yet; guides future decisions 41 Students and Characteristics Projected Student Enrollment Students with Disabilities 65,000 63,771 14.5% 14.20% 64,000 63,434 63,000 62,848 62,281 14.0% 13.78% 62,000 61,517 13.5 13.43% 61,000 13.0% 12.91% 60,000 12.57% 12.5% 12.28% 59,000 58,000 12.0% 57,000 11.5% oo m O N N N M M N N °N° ry �M 11.0% O O O O O ti N M V u'1 lD N N N N N N N N N N N O K-12 9 Preschool,SECEP N N N N N N O O N O O O Economically Disadvantaged English Language Learners Students 5% 47% 45.94% 45 4.04% 4.05% 46% .79% 45.51% 4% 3 66/ 45% 3 30/ �n 4360/ 2 89/ , 44% 3% � �r 43% 2 28% � 41.83% n " r 42% 4113/0 , 2% $ s ss� 40% 1% �. � . 39% 38% xo ,a x ,. 5 „ ,., a v N N N N N N N N N N N N O N fY1 L!1 N N O N N N N N N N N O CD 0 O O O O O O O O N N N N N NN 42 Baseline Revenue Assu m ptions 02030-31 Revenue Sharing Formula +1.5% +2.8% +2.8% +2.2% +2.2% State +3.0% +3.0% +3.0% +3.0% +3.0% Sales Tax +0.5% +0.5% +0.5% +0.5% +0.5% Federal +5.1% - - - - Other Local +22.4% +20.2% +18.3% +16.8% +15.5% Baseline Revenue Assumptions VBCPS Baseline Revenue $700,000,000 $600,000,000 $500,000,000 $400,000,000 $300,000,000 $200,000,000 $100,000,000 $0 FY 2026-27 FY 2027-28 FY 2028-29 FY 2029-30 FY 2030-31 Forecast Forecast Forecast Forecast Forecast Revenue Sharing Formula State Revenue State Shared Sales Tax Federal Revenue Other Local 44 Key Budget Assumptions—Expenditures Salary Increase * +3.0% +3.0% +3.0% +3.0% +3.0% Employer Health Insurance +13.5% +9.0% +9.0% +9.0% +9.0% Employer VRS +1.0% - +1.0% - +1.0% Inflation +3.0% +3.0% +3.0% +3.0% +3.0% PAYGO Funding +$1,000,000 +$1,000,000 +$1,000,000 +$500,000 +$500,000 *These increases are not a guarantee but a placeholder for future consideration by the School Board as part of the annual budget process. • 3% annual salary placeholder • Employer health insurance +13.5% for FY27, +9% annually through FY2031 • Rising debt service and PAYGO • 3% inflation assumption 45 Key Budget Assumptions — Expenditures VBCPS Expenditure Assumptions $800,000,000 $700,000,000 $600,000,000 $500,000,000 $400,000,000 $300,000,000 $200,000,000 $100,000,000 0 ., . FY 2026-27 FY 2027-28 FY 2028-29 FY 2029-30 FY 2030-31 Forecast Forecast Forecast Forecast Forecast Personnel Services* Fringe Benefits Non-Personnel PAYGO Debt Service Transfers to Other Funds 46 VBCPS Baseline Forecast Revenue $1,087,831,763 $1,117,606,390 $1,148,417,417 $1,176,341,149 $1,205,095,645 Expenditures $1,107,831,266 $1,145,493,727 $1,191,957,858 $1,236,868,269 $1,294,261,592 Baseline ($19,999,503) ($27,8871337) ($43,540,441) ($60,527,120) ($89,165,947) ,,7 VBCPS Basel i ne Forecast VBCPS Baseline Forecast 1,350,000,000 1,300,000,000 1,250,000,000 1,200,000,000 - ..•-� 1,150,000,000 ....-""" 1,100,000,000 1,050,000,000 FY27 FY28 FY29 FY30 FY31 --:;Revenues Expenditures 48 Key Budget Pressures • Compensation competitiveness • Health fund reserve rebuilding • Princess Anne High School replacement project • Declining enrollment and rising student needs • Uncertainty surrounding future federal K-12 education funding and potential reforms • Conclusion of ALL In Virginia supplementary state funding 49 Strategic Financial Management • Balanced budget as required by state law • Data-driven planning and stakeholder engagement • Remaining flexible and adaptive to economic change • Strengthen Health fund reserves 50 What Could Change? • Adjustments to the State SOQ funding formula (JLARQ • Adjustments to benefits rates in the new biennium • Rising healthcare trends and costs • New State and Federal mandates • New School Board priorities • Increasing debt service obligations for CIP • Escalating Operating expenditures (utilities, fuel, contractual obligations) 5� Closing • Balancing today's needs with tomorrow's vision • Commitment to fiscal responsibility and student success • Continued investment in people, programs, and facilities • Partnership with City and community to sustain excellence 52 Real Estate Tax Revenue $1,000,000,000 $900,000,000 $819,226,589 $823,094,435 $800,000,000 $928,198,873 $700,000,000 $600,000,000 $500,000,000 $400,000,000 $300,000,000 $200,000,000 $100,000,000 $0 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028 FY 2029 FY 2030 FY 2031 Budget Actual Projection 5� 4 ADJOURNMENT ITEM#77718 Mayor Robert M. Dyer DECLARED the City Council SPECIAL FORMAL SESSIONADJOURNED at 1:47 P.M. Terri H. Chehus� Chief Deputy pity Clerk Amanda Barnes City Clerk, MMC Rosemary Wilson Vice Mayor Robert M. Dyer Mayor City of Virginia Beach Virginia November 18, 2025