Richmond Starts Fiscal Year With Balanced Budget Posted at 22:57h in City Government, News, Politics Richmond City Council adopted the 2026-27 budget at its June 23 meeting. (Screenshot by Samantha Kennedy / The CC Pulse) By Samantha Kennedy Richmond’s 2026-27 fiscal year budget goes into effect Wednesday. It comes with no layoffs, a large surplus, and grant awards that exceed the general fund budget, but there are still some constraints.