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Edmonds finance director flags sales-tax shortfall; council schedules budget retreat
Summary
City staff told council sales-tax receipts are falling short of projections and recommended using lower year-end projections for 2026 budgeting; staff also presented a July financial report showing a higher-than-expected fund balance due to delayed capital projects and higher real estate-excise tax collections.
The Edmonds finance director and mayor briefed council on near-term revenue trends and a July finance report indicating the city will likely fall short of previously budgeted sales-tax growth and is adjusting 2026 assumptions.
Key points: Mayor Mike Rosen and Finance Director Michelle Gold told council sales-tax receipts have not met the 3.5% increase assumed in the current budget. Council heard staff estimate a revenue shortfall in the range of $800,000 to $900,000 for the year and an estimated 2026 impact of about $1.3 million…
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