Title
2027 Operating Budget Update
Recommended Action
Committee Recommendation:
Not referred to committee.
City Manager Recommendation:
Receive an update on the 2027 Operating Budget and discuss strategies for budget balancing.
Report
Issue:
Whether to receive an update on the 2027 Operating Budget and discuss strategies for budget balancing.
Staff Contact:
Mike Githens, Finance Director, 360-753-8465
Presenter(s):
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 briefing on budget assumptions and dedicated General Fund revenues. Since that time, staff have continued to develop the budget and refine financial projections and assumptions
.
This briefing will provide the City Council with a comprehensive update on the 2027 budget development process, including the current budget balancing position, estimated 2026 year-end fund balance, revenue forecasts, expenditures and baseline budget elements, updated assumptions, remaining work to achieve a balanced budget, and the budget calendar through the end of 2026.
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:
Receive an update on the 2027 Operating Budget and discuss strategies for budget balancing.
Do not receive an update on the 2027 Operating Budget and discuss strategies for budget balancing.
Take other action.
...
Click here for full text