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
Finance
Hailey Zurcher
Financial Planning Manager
Finance
Ryan Edwardsen
Principle Revenue Analyst
Finance
Adam O'Sullivan
Finance Manager
Finance
Nida Hermoso
Accounting Manager
TITLE:
title
Budget Process: Long-Range Financial Strategy & Fiscal Policies
OVERVIEW STATEMENT:
recommendation
As part of the City's ongoing commitment to sound financial stewardship, the Long-Range Financial Strategy and Fiscal Policies documents are currently being updated to reflect changing economic conditions, emerging community priorities, and best practices in municipal finance. Council will be provided with an overview of the draft recommendations that incorporate updated assumptions, clearer policy direction, and enhanced alignment with the City's strategic goals.
body
? Additional Background Information/Description of Proposal Attached
REQUESTED ACTION:
? Receive Information ? Provide Direction ? Approve
REQUEST RATIONALE:
* Relevant Plans/Policies:
o City of Redmond Long-Range Financial Strategy
o City of Redmond Fiscal Policies
* Required:
o City policies require routine updates to the Long-Range Financial Strategy
o City and State policies require routine updates to 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 City Council.
OUTCOMES:
The City's Long-Range Financial Strategy and Fiscal Policies serve as the foundation for responsible governance, ensuring that Redmond remains financially resilient, transparent, and well-positioned to meet both current and future community needs. The guiding documents establish principles for bu...
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