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 th...
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