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
2027-2028 Budget Process Update
OVERVIEW STATEMENT:
recommendation
An overview of the 2027-2028 budget process and an update on the Long-Range Financial Strategy (LRFS) will be provided.
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:
1. An overview of the 2027-2028 budget process will be provided including the development of budget plans, presentation of information to Council, Public Hearing schedules, and the planned agendas for review and deliberation of the preliminary budget.
2. The City of Redmond Long-Range Financial Strategy (LRFS) is the financial decision-making framework used to align resources with the community’s long-term service priorities. It outlines guiding principles, philosophies, and financial strategies to support the work; defines the City’s service commitments; and helps guide decisions that balance the community’s needs, expectations, and level of services. The LRFS is undergoing a refresh to modernize the document, reflect the latest strategic and functional plans of the City, and improve alignment with the City’s budget.
The latest draft of the LRFS will be shared with Council, and any changes made to the document since the last check-in will be reviewed. The LRFS will be finalized and adopted with 2027-2028 biennial budget in Fall 2026.
3. The planned update on the Fiscal Policy has been moved to the April FAC meeting as requested to create capacity for other items at the March meeting.
COMMUNITY/STAKEHOLDER OUTREACH AND INVOLVEMENT:
• Timeline (previous or planned):
Financial Planning staff and executive-level staff from various city departments have had the opportunity to review the draft LRFS and provide feedback.
• 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 & 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 |
|
11/12/2025 |
Special Meeting |
Receive Information |
Proposed Upcoming Contact(s)
|
Date |
Meeting |
Requested Action |
|
5/12/2026 |
Committee of the Whole - Finance, Administration, and Communications |
Provide Direction |
Time Constraints:
Feedback on the LRFS is recommended by Spring 2026 so that staff efforts can be focused on budget development going forward.
ANTICIPATED RESULT IF NOT APPROVED:
The City’s Long-Range Financial Strategy would not be aligned with the City’s latest strategic and functional plan updates.
ATTACHMENTS:
Attachment A: 2027-2028 Budget Process Overview
Attachment B: Long-Range Financial Strategy Presentation
Attachment C: Updated Long-Range Financial Strategy Draft