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Bellevue unveils preliminary $195 million 2025'26 budget; bonds planned for capital including $30M water park allocation
Summary
Rich Severson, Bellevue's finance director and treasurer, presented a preliminary 2025'26 budget Aug. 19 showing $195.118 million in planned expenditures, $54 million in projected cash reserves, and a capital program of about $94 million that includes a $30 million allocation for the Bellevue Bay Waterpark.
Rich Severson, Bellevue's finance director and treasurer, and Assistant Finance Director Jason Tortoff presented the city's preliminary 2025'26 budget to the City Council on Aug. 19, showing revenues and planned expenditures roughly in balance and identifying bond proceeds as the primary means to fund capital work, including the Bellevue Bay Waterpark.
Severson told the council the city expects to end the fiscal year with about $54 million in cash and projects $195 million in revenues against a $195.118 million expenditure budget for 2025'26. He said the city's S&P credit rating remains at AA+ and that careful departmental budgeting preserved cash reserves.
Capital plan and funding
Staff presented approximately $94 million in planned capital expenditures. The largest single…
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