Title
Quarterly Financial Report Briefing
Recommended Action
Committee Recommendation:
Not referred to committee.
City Manager Recommendation:
Receive a briefing on the Quarterly Financial Report.
Report
Issue:
Whether to receive a briefing on the Quarterly Financial Report.
Staff Contact:
Mike Githens, Finance Director, 360-753-8465
Presenter(s):
Mike Githens, Finance Director
Background and Analysis:
The Finance Department creates a monthly financial report detailing the year-to-date revenue and expenses across the City’s funds as compared with the adopted budget. This presentation will focus on an update as of second quarter ending June 30, 2026. This provides a look at the City’s finances at the midpoint of the fiscal year.
The monthly financial report has a new feature that includes a “Historicals” tab. This allows the viewer to choose specific City Funds and Departments going back to fiscal year 2023 for comparison. As always, the monthly financial report is updated at the summary level, with specific information related to all city Funds available for viewing. The “Watch List” is updated with information current through June 30, 2026.
The presentation will include a look ahead at the 2027 budget process and how the current financial report impacts the upcoming budget.
Climate Analysis:
This agenda item is expected to result in no 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.
Financial Impact:
There is no financial impact resulting from this report.
Neighborhood/Community Interests (if known):
Members of the community may have an interest in this agenda item as it deals with City finances and fiscal governance.
Options:
1. Receive a briefing on the Quarterly Financial Report.
2. Receive a briefing on the Quarterly Financial Report at another time.
3. Take other action.
Attachments:
Link to Financial Report
Link to Budget and Performance Webpage