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Anacortes council hears finance briefing; staff warns planned draw on reserves of $2.6 million
Summary
City finance staff presented a detailed explanation of fund accounting and year-end results, saying the 2025 budget currently relies on about $2.6 million of cash reserves and flagging parks, cemetery and library funds as most at risk if revenues remain flat.
City Finance staff presented an overview of the city’s accounting system and year-end fund results at the Anacortes City Council meeting on March 3, 2025, and said the 2025 budget relies on about $2,600,000 in cash reserves to balance the general fund.
The presentation explained why the city uses fund accounting and how governmental funds differ from enterprise funds. It also walked council through year-end cash positions by fund, projected 2025 fund-balance uses and several capital and recovery items that shaped reserves and spending plans.
The finance presenter emphasized the required accounting framework and the practical effect on budgeting. “It’s not efficient. It is an inefficient means of accounting,” the presenter said, adding that the system, mandated by state rules and the BARS manual, nevertheless “provides more accountability.” He told the…
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