Title
Consideration of the Recommended 2027 Proposed Operating, Special (Dedicated) Funds and Capital Budget for Final Budget Balancing
Recommended Action
Committee Recommendation:
Move to approve a recommendation to the City Council to consider the 2027 Preliminary Operating, Special (Dedicated) Funds and Capital Budget for Final Budget Balancing.
City Manager Recommendation:
Move to approve a recommendation to the City Council to consider the 2027 Preliminary Operating, Special (Dedicated) Funds and Capital Budget for Final Budget Balancing.
Report
Issue:
Whether to approve a recommendation to the City Council to consider the 2027 Preliminary Operating, Special (Dedicated) Funds and Capital Budget for Final Budget Balancing.
Staff Contact:
Michael Githens, Finance Director, 360.753.8465
Presenter(s):
Jay Burney, City Manager
Michael Githens, Finance Director
Background and Analysis:
As part of the development of the 2027 budget, staff conducted a comprehensive review of projected revenues, expenditures, service demands, capital needs, contractual obligations and policy priorities.
Throughout the budget development process, staff updated revenue forecasts using the most recent economic and local financial information and identified expenditure changes associated with inflationary pressures, cost escalation, labor agreements, benefits, operating requirements and capital project delivery. Staff also evaluated one-time and ongoing funding requests submitted by departments and assessed the impact of those requests on fund balance sustainability and future financial capacity.
The recommended 2027 proposed operating, special (dedicated) funds and capital budget reflects the City’s ongoing commitment to maintain essential services, advancing Council priorities, preserving critical infrastructure and complying with adopted financial policies. The Finance Committee’s review of the proposed budget and final balancing recommendations provides an opportunity to...
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