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Lynnwood Council adopts budget fixes, keeps lower reserve target while staff closes shortfall
Summary
The Lynnwood City Council on May 23 adopted a resolution removing the sunset on a lowered general fund reserve policy and heard staff briefings showing steps that reduced an earlier $25 million budget gap to near zero for 2026, relying partly on a new public safety sales tax and one-time transfers.
Lynnwood's City Council voted unanimously on May 23 to remove the sunset date from a temporary reduction in the city's general fund reserve policy, a move staff said is needed as the city finishes corrective steps that closed a previously reported $25 million budget gap for the 2025-26 biennium.
Director Meyer told the council the $25 million shortfall combined a $3 million beginning balance shortfall with about $22 million in revenue reductions. Council and staff reduced ongoing expenditure commitments by roughly $11-$12 million, used one-time transfers and true-ups, and added revenue measures adopted earlier this year, including a $1 million property tax increase and a rise in utility taxes. The city also expects revenue from a newly adopted 0.1% public safety enhancement sales tax; Meyer said staff…
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