TO: Members of the City Council
FROM: Mayor Angela Birney
DEPARTMENT DIRECTOR CONTACT(S):
|
Finance |
Kelley Cochran |
425-556-2748 |
DEPARTMENT STAFF:
|
Finance |
Haritha Narra |
425-556-2163 |
TITLE:
title
Budget Update
OVERVIEW STATEMENT:
recommendation
The Finance Department will be providing Council an update on items from the 2025-2026 budget and plans for the 2027-2028 budget process. A new revenue option to consider will also be discussed. During the discussion of new revenue, the Finance Department will request direction from Council on how to proceed with the 2026 Business License ordinance.
body
☒ Additional Background Information/Description of Proposal Attached
REQUESTED ACTION:
☐ Receive Information ☒ Provide Direction ☐ Approve
REQUEST RATIONALE:
• Relevant Plans/Policies:
N/A
• Required:
N/A
• Council Request:
N/A
• Other Key Facts:
N/A
OUTCOMES:
The purpose of the study session is to provide Council with an update of several key financial and strategic initiatives related to the City’s budget and fiscal planning efforts. Specifically, the presentation will provide:
• A status update of the service enhancements funded through the 2025-2026 budget process
• An update to the outcome maps associated with each Community Budget Priority
• An overview of the Community Results Team process for the 2027-2028 Budget
• A review of the sample new performance report currently in development
• A status report on updates to the Long-Range Financial Strategy and Fiscal Policies
• An introduction to a potential new revenue option under House Bill 2015 (HB 2015)
COMMUNITY/STAKEHOLDER OUTREACH AND INVOLVEMENT:
• Timeline (previous or planned):
N/A
• Outreach Methods and Results:
N/A
• Feedback Summary:
N/A
BUDGET IMPACT:
Total Cost:
N/A
Approved in current biennial budget: ☐ Yes ☐ No ☒ N/A
Budget Offer Number:
N/A
Budget Priority:
Strategic and Responsive
Other budget impacts or additional costs: ☐ Yes ☐ No ☒ N/A
If yes, explain:
N/A
Funding source(s):
N/A
Budget/Funding Constraints:
N/A
☐ Additional budget details attached
COUNCIL REVIEW:
Previous Contact(s)
|
Date |
Meeting |
Requested Action |
|
N/A |
Item has not been presented to Council |
N/A |
Proposed Upcoming Contact(s)
|
Date |
Meeting |
Requested Action |
|
1/13/2026 |
Committee of the Whole - Finance, Administration, and Communications |
Provide Direction (Long-Range Financial Strategy & Fiscal Policies) |
Time Constraints:
N/A
ANTICIPATED RESULT IF NOT APPROVED:
N/A
ATTACHMENTS:
Attachment A: PowerPoint Presentation-Budget Update
Attachment B: Sample Performance Report
Attachment C: Draft Long-Range Financial Strategy
Attachment D: 2026 Business License Ordinance