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Lake Stevens council reviews 2026 base budget outlook and schedules retreat follow‑up
Summary
City finance staff presented the 2025 estimated results and 2026 base budget assumptions Sept. 9, flagging mixed revenue performance, rising insurance and benefit costs, and potential general‑fund pressure, and recommended additional council workshops including a retreat for detailed review.
The Lake Stevens City Council on Sept. 9 reviewed the city’s 2025 estimated revenues and the administration’s initial base budget assumptions for 2026, and scheduled further, more detailed budget work at an upcoming retreat. Finance director Barb Stevens presented a citywide snapshot: estimated 2025 revenues were slightly above budget overall (about 2.3%) but the general fund showed little to no growth and some shortfalls versus prior expectations. Real estate excise tax receipts (REET) were running below budget and below 2024 levels, and construction sales tax is outperforming retail sales tax,…
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