Title
2027 Budget Update
Recommended Action
Committee Recommendation:
Not referred to committee.
City Manager Recommendation:
Receive an update on the 2027 Budget process.
Report
Issue:
Whether to receive an update on the 2027 Budget process.
Staff Contact:
Mike Githens, Finance Director, 360-753-8465
Presenter(s):
Mike Githens, Finance Director
Background and Analysis:
The 2027 budget process has been ongoing since June 2026. On June 9, City Council received an update outlining the initial budget assumptions and dedicated General Fund revenues. Council has received subsequent updates that provided additional details regarding operating assumptions, revenue and expenditure forecasts, and enhancement requests under consideration. Staff have since continued refining these elements to develop the budget and update the overall balancing position.
Council will receive an updated projection of the 2026 year-end anticipated balance above required reserve, along with the 2027 Operating Budget updated balancing position. Staff will also present the City Manager’s recommended prioritization of enhancement requests. The presentation will conclude with an overview of the remaining milestones in the 2027 budget process, including upcoming Council meetings, public engagement opportunities, and preparation of the final proposed budget ordinances for Council consideration.
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.
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.
Financial Impact:
There is no financial impact resulting from this report.
Options:
1. Receive an update on the 2027 Budget.
2. Do not receive an update on the 2027 Budget.
3. Take other action.
Attachments:
None