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Lynnwood council lowers general‑fund reserve target to two months through 2026; resolution passes 7‑0
Summary
Council voted 7‑0 to amend the financial policy, reducing the general‑fund minimum reserve from 2.5 months to 2 months for the 2025‑26 biennium; leaders said the change helps the city meet internal policy targets given revenue shortfalls and reduces the projected 2026 budget gap from about $10.5 million to about $8 million.
The Lynnwood City Council adopted Resolution 2025‑08 on Oct. 27 amending the city's financial policy to lower the general‑fund minimum reserve from 2.5 months to 2 months for the 2025‑26 biennium. The resolution passed in a roll‑call vote, 7‑0.
Director of Finance (Director Meyer) told the council the city's current forecast showed a projected shortfall and that reducing the reserve target to two months would bring the city into compliance with its own policy given current revenue assumptions. Meyer said the change would reduce the projected biennial shortfall for 2026 from about $10.5 million to…
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