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File #: AM No. 24-144   
Type: Public Hearing Status: Presented
File created: 7/29/2024 In control: City Council
On agenda: 10/1/2024 Final action: 10/1/2024
Title: Public Hearing on 2025-2026 Biennial Budget: Property Tax Levy and Other Revenue Sources
Attachments: 1. Agenda Memo

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

Deputy Finance Director

 

 

TITLE:

title

Public Hearing on 2025-2026 Biennial Budget: Property Tax Levy and Other Revenue Sources

 

OVERVIEW STATEMENT:

recommendation

This is the second of four public hearings related to the 2025-2026 biennial budget. The purpose of this public hearing is to gather feedback on the proposed tax and fee increases in the preliminary 2025-2026 biennial budget. Public Hearings are a chance for Council and staff to hear the priorities of the community as a budget is developed for the next biennium.

body

  Additional Background Information/Description of Proposal Attached

 

 

REQUESTED ACTION:

 

  Receive Information                                            Provide Direction                                            Approve

 

 

REQUEST RATIONALE:

 

                     Relevant Plans/Policies:

N/A

                     Required:

Public hearings are required under Revised Code of Washington (RCW) 84.55 and RCW 35.34 allowing the community to give public testimony on the upcoming budget.

 

This public hearing on the property tax levy and other revenue sources for the coming fiscal biennium is required under RCW 84.55.120: The legislative body must hold a public hearing on revenue sources for the coming year’s budget, including consideration of possible increases in property tax revenues, prior to the property tax certification deadline.

 

The City is required to hold at least three public hearings during the budget development process: 1) property tax levy and other revenue sources; 2) preliminary budget; and 3) final budget. Because the Capital Improvement Program and Business Technology Investment Program are critical components of the budget development process, an additional public hearing is dedicated to these programs.

                     Council Request:

N/A

                     Other Key Facts:

N/A

 

 

OUTCOMES:

Public hearings provide a formal opportunity for public testimony regarding the preliminary 2025-2026 biennial budget.

 

 

COMMUNITY/STAKEHOLDER OUTREACH AND INVOLVEMENT:

 

                     Timeline (previous or planned):

On July 16, 2024, the first public hearing on the 2025-2026 biennial budget was held. This public hearing provided an opportunity for the community to share feedback on the proposed 2025-2030 Capital Investment Program and Business Technology Investment program, the first two years of which will be incorporated into the 2025-2026 biennial budget that is currently being developed.

 

Two public hearings on the preliminary 2025-2026 biennial budget are scheduled for October 15, 2024, and November 4, 2024.

                     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:

N/A

 

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

2/13/2024

Committee of the Whole - Finance, Administration, and Communications

Provide Direction

2/27/2024

Study Session

Provide Direction

3/19/2024

Committee of the Whole - Public Safety and Human Services

Provide Direction

4/9/2024

Committee of the Whole - Finance, Administration, and Communications

Provide Direction

4/23/2024

Study Session

Provide Direction

5/28/2024

Committee of the Whole - Parks and Environmental Sustainability

Provide Direction

6/11/2024

Committee of the Whole - Finance, Administration, and Communications

Provide Direction

6/25/2024

Study Session

Receive Information

7/9/2024

Committee of the Whole - Finance, Administration, and Communications

Receive Information

7/9/2024

Study Session

Provide Direction

7/16/2024

Business Meeting

Receive Information

8/13/2024

Committee of the Whole - Finance, Administration, and Communications

Receive Information

9/10/2024

Committee of the Whole - Finance, Administration, and Communications

Receive Information

9/24/2024

Study Session

Receive Information

 

Proposed Upcoming Contact(s)

Date

Meeting

Requested Action

10/8/2024

Committee of the Whole - Finance, Administration, and Communications

Receive Information

 

Time Constraints:

The public hearing on the property tax levy and other revenue sources is required prior to the property tax certification deadline.

 

 

ANTICIPATED RESULT IF NOT APPROVED:

N/A

 

 

ATTACHMENTS:

N/A