TO: Committee of the Whole - Finance, Administration, and Communications
FROM: Mayor Angela Birney
DEPARTMENT DIRECTOR CONTACT(S):
|
Finance |
Kelley Cochran |
425-556-2748 |
DEPARTMENT STAFF:
|
Finance |
Haritha Narra |
Deputy Finance Director |
|
Finance |
Hailey Zurcher |
Financial Planning Manager |
TITLE:
title
Budget Process Update: Long-Range Financial Strategy, Fiscal Policies, Budget Ground Rules, and Communications and Engagement Plan
OVERVIEW STATEMENT:
recommendation
The Long-Range Financial Strategy and the Fiscal Policies documents are updated to reflect changing economic conditions, emerging community priorities, and best practices in municipal Finance. A Study Session is scheduled for July 28, and Finance staff would like to review the proposed discussion items to ensure the presentation is complete. Additionally, in preparation for upcoming Council budget deliberations in the fall, the Council budget review ground rules were provided in June for Council’s review and approval to move forward to the consent agenda. Furthermore, as part of the budget process, a Communications and Engagement Plan for the 2027-2028 budget has been developed, and an overview will be provided.
body
☒ Additional Background Information/Description of Proposal Attached
REQUESTED ACTION:
☐ Receive Information ☒ Provide Direction ☐ Approve
REQUEST RATIONALE:
• Relevant Plans/Policies:
City of Redmond Long-Range Financial Strategy
City of Redmond Fiscal Policies
• Required:
City policies require routine updates to the Long-Range Financial Strategy.
City and State policies require routine updates to the Fiscal Policies.
• Council Request:
N/A
• Other Key Facts:
The review and update process for the Long-Range Financial Strategy and Fiscal Policies is included in the biennial budget process. The current update is significant, and it is important to discuss the recommended changes with Council.
OUTCOMES:
The Long-Range Financial Strategy provides a forward-looking framework that forecasts revenues and expenditures over multiple years. It helps identify potential gaps, assess financial risks, and guide decision-making to maintain structural balance. Fiscal Policies establish the rules and standards that govern how financial decisions are made and implemented. The policies cover areas such as reserve levels, debt management, and revenue diversification. The discussion during the FAC meeting will be an opportunity to provide feedback to inform preparation for the July 28 Study Session.
Additionally, the Council budget review ground rules will be reviewed in preparation for adoption at an upcoming business meeting.
The 2027-2028 Budget Communications and Engagement Plan has been prepared to inform Council of the outreach and engagement efforts and methods being utilized as part of the budget development process.
Attachments will be provided to Council prior to the July 14 FAC meeting.
COMMUNITY/STAKEHOLDER OUTREACH AND INVOLVEMENT:
• Timeline (previous or planned):
March-November 2026
• Outreach Methods and Results:
Focus Groups (community members, Board Members and Commissioners, and CBOs)
Budget Questionnaire (launched July 1, 2026)
Refreshed city webpages regarding the budget
Stickers, Yard Signs, Flyers, Utility Bill Inserts
Public Hearings for the Budget Process
News Releases
Social Media
Promotional Videos
City eNews & Other Newsletters
Focus Article
• Feedback Summary:
Focus group feedback will be presented to Council in September 2026.
Budget Questionnaire feedback will be presented to Council in the fall.
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 |
|
3/10/2026 |
Committee of the Whole - Finance, Administration, and Communications |
Provide Direction |
|
4/14/2026 |
Committee of the Whole - Finance, Administration, and Communications |
Receive Information |
|
4/14/2026 |
Study Session |
Receive Information |
|
5/12/2026 |
Committee of the Whole - Finance, Administration, and Communications |
Receive Information |
|
6/9/2026 |
Committee of the Whole - Finance, Administration, and Communications |
Provide Direction |
Proposed Upcoming Contact(s)
|
Date |
Meeting |
Requested Action |
|
7/28/2026 |
Study Session |
Provide Direction |
Time Constraints:
The final Long-Range Financial Strategy and Fiscal Policies documents will be proposed for approval as part of the budget adoption packet in November.
ANTICIPATED RESULT IF NOT APPROVED:
The City will continue to utilize the existing Long-Range Financial Strategy and Fiscal Policies.
ATTACHMENTS:
N/A