Title
2027 Proposed Budget Update
Recommended Action
Committee Recommendation:
Not referred to a committee.
City Manager Recommendation:
Receive an update on the 2027 Proposed Budget, discuss enhancements and strategies and tools for budget balancing.
Report
Issue:
Whether to receive an update on the 2027 proposed Budget and discuss enhancements and strategies for budget balancing.
Staff Contact:
Mike Githens, Finance Director, Finance Department, 360.753.8465
Presenter(s):
Jay Burney, City Manager
Mike Githens, Finance Director
Background and Analysis:
The 2027 budget process began in June 2026. On June 9, 2026, the City Council received an initial update outlining key budget assumptions and dedicated General Fund revenues. Since that briefing, staff have continued developing the budget and refining key financial components.
A second update was provided to the City Council on September 15, 2026, covering current revenue projections, revised assumptions, the 2026 year-end forecast, and the City’s balancing position for the 2027 Operating Budget, including the remaining budget gap and the work required to present a balanced budget.
The Finance Committee will now receive several concept options intended to assist in budget balancing. Staff will present potential budget enhancements with associated costs, walk through relevant considerations, and provide additional updates to help guide the Committee’s recommendation for full City Council review.
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:
The individual presenters will share financial impacts as part of their presentation.
Options:
1. Receive an update on the Proposed 2027 Budget.
2. Do not receive an update on the Proposed 2027 Budget.
3. Take other action.
Attachments:
None