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Finance director outlines $2.4 million reconciliation in first reading of 2026 budget amendment
Summary
At the June 22 meeting Finance Director Kristen Reed presented Ordinance No. 2841, a first reading of the 2026 budget amendment reconciling an estimated $2.4 million difference in beginning fund balances, noted FTE adjustments, and described revenue and expense changes.
The council received the first reading of Ordinance No. 2841 on June 22, 2026, a proposed amendment to the 2026 operating budget to reconcile differences between estimated and actual beginning fund balances.
Finance Director Kristen Reed told council the difference between estimated and actual beginning fund balances was nearly $2,400,000, mostly attributable to projects that were expected to finish in the prior year but rolled into the current year. "The revenue increase was $1,400,000 which is mostly again due to grants that we didn't receive by year end and rollovers from other funds to cover projects," Reed said, and she reported an overall expense increase of $2,600,000, leaving an increase in ending fund balance of just over $1,000,000 after the amendment.
Reed highlighted specific staffing adjustments included in the amendment: increasing a media services technician from 0.5 FTE to 1.1 FTE and adding a temporary 0.5 FTE administrative specialist in the finance department while the city implements new financial software. She noted many items on the amendment had been reviewed through the consent agenda.
This was the first reading; Reed said staff is available to answer questions and the ordinance will return for a second reading and potential adoption at a later meeting.
