Title
2027 Preliminary Operating Budget Update
Recommended Action
Committee Recommendation:
Not referred to a committee.
City Manager Recommendation:
Receive a 2027 Preliminary Operating Budget Update.
Report
Issue:
Whether to receive a 2027 Preliminary Operating Budget Update.
Staff Contact:
Mike Githens, Finance Director, 360.753.8465.
Presenter(s):
Mike Githens, Finance Director
Background and Analysis:
The purpose of the 2027 Preliminary Operating Budget Update is to provide the Finance Committee with an informational briefing on the status of the City’s budget development process. Revenue estimates for 2027 remain preliminary and will be refined as the process moves closer to final budget preparation. The Executive Team is actively evaluating potential enhancements and determining which recommendations should be considered for inclusion in the proposed budget.
The Budget Team is actively working on the initial preparation of the budget using the current revenue estimates and known expenditure assumptions. This work will allow the City Manager and staff to begin the initial budget balancing process and identify potential gaps, priorities, and funding considerations.
As part of this update, staff will also provide the Finance Committee with an overview of the budget calendar and timeline, including key milestones and upcoming decision points. This information will help the Committee understand the overall budget development process and the opportunities for review and input as the 2027 budget moves forward.
Climate Analysis:
This agenda item isn’t expected to have an impact to greenhouse gas emissions.
Equity Analysis:
One of the goals of the City’s budget process is to ensure that city services are provided equitably to our residents and business communities, as well as the greater Olympia community. This agenda item is not expected to further impact known disparities in our community.
Neighborhood/Community Interests (if known):
Members of the community may have an interest in this agenda item as it deals with City finances, transparency, and fiscal governance.
Financial Impact:
There is no financial impact associated with this agenda item.
Options:
1. Receive 2027 Preliminary Operating Budget Update.
2. Do not receive 2027 Preliminary Operating Budget Update.
3. Receive 2027 Preliminary Operating Budget Update at another time.
Attachments:
None