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
TITLE:
title
Adoption of an Ordinance for the 2025-2026 Budget Adjustment #2
a. Ordinance No. 3224: An Ordinance of the City Council of the City of Redmond, Washington, Amending Ordinance No. 3196 and 3215, by Making Adjustments to the City's 2025-2026 Biennial Budget, in Exhibit 1
OVERVIEW STATEMENT:
recommendation
An Ordinance amending Ordinance No. 3196 and 3215 by adjusting the City's 2025-2026 Biennial Budget to true-up beginning fund balances. In the first year of each biennium, budgeted beginning fund balances are reconciled with the actual beginning fund balances for each fund. A budget adjustment is required to formally recognize the difference in each fund. The budget adjustment included in this ordinance formally recognizes these differences in the Capital Investment, Utility, Special Revenue, Internal Service and Debt Service Funds, and the sub-funds of the General Fund.
body
? Additional Background Information/Description of Proposal Attached
REQUESTED ACTION:
? Receive Information ? Provide Direction ? Approve
REQUEST RATIONALE:
* Relevant Plans/Policies:
Fiscal Policies
* Required:
RCW 35A.33.120 Funds-Limitations on expenditures-Transfers and adjustments.
* Council Request:
N/A
* Other Key Facts:
N/A
OUTCOMES:
This budget adjustment is necessary to align city financial records to account for Council decisions and corrections to the existing budget.
COMMUNITY/STAKEHOLDER OUTREACH AND INVOLVEMENT:
* Timeline (previous or planned):
N/A
* Outreach Methods and Results:
N/A
* Feedback Summary:
N/A
BUDGET IMPACT:
Total Cost:
$31,744,778
Approved in current biennial budget: ? Yes ? No ? N/A
Budget Offer Number:
N/A
Budget Priority:
N/A
Other budget impacts or additional c...
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