Title
Preliminary 2025 Year-End Estimates Update
Recommended Action
Committee Recommendation:
Not referred to a committee.
City Manager Recommendation:
Receive an update on the estimates for ending balances at 2025 year-end.
Report
Issue:
Whether to receive an update on the estimates for ending balances at 2025 year-end.
Staff Contact:
Mike Githens, Finance Director, 360-753-8465
Presenter(s):
Joan Lutz, Senior Budget and Finance Manager
Mike Githens, Finance Director
Background and Analysis:
As the year-end financial close process for the fiscal year ending December 31, 2025 progresses, staff are able to provide preliminary estimates of ending fund balances and overall financial performance.
This update will provide information on revenue and expenditure trends, notable variances from budget assumptions, and projected ending balances across key funds. The discussion will also help inform ongoing financial planning, reserve monitoring, and future budget development considerations.
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 transparency, City finances and fiscal governance.
Financial Impact:
There is no financial impact associated with this agenda item.
Options:
1. Receive an update on the preliminary 2025 year-end estimates.
2. Do not receive an update on the preliminary 2025 year-end estimates.
3. Receive an update on the preliminary 2025 year-end estimates at another time.
Attachments:
None