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Finance director outlines $2.4M reconciliation in first reading of 2026 budget amendment
Summary
Kristen Reed presented the first reading of Ordinance 2841, citing an almost $2.4 million variance between estimated and actual beginning fund balances and FTE adjustments tied to new financial software implementation.
The council heard a first reading of Ordinance No. 2841 on June 22, a proposed amendment to the 2026 operating budget to reconcile estimated beginning fund balances with actuals.
Finance Director Kristen Reed told council the difference between estimated and actual beginning fund balances was "almost $2,400,000," primarily due to projects not completed by year-end and resulting rollovers. Reed said the amendment shows a revenue increase of about $1,400,000 (mostly grant and rollover adjustments) and an expense increase of $2,600,000, leaving a net increase in ending fund balance of just over $1,000,000.
Reed pointed out personnel adjustments included in the amendment: increasing the media services technician from 0.5 FTE to 1.1 FTE and temporarily adding a 0.5 FTE administrative specialist in finance while the city implements new financial software. Reed said most items had already been visible in the consent agenda and that the amendment is presented for a first reading; she invited questions and noted she was available to answer them.
Why it matters: The amendment formally accounts for significant rollovers and one-time timing differences that affect the city's reported beginning and ending fund balances; it also includes temporary staffing changes tied to software implementation.
Next steps: This was the first reading by title; council may review details and consider adoption at a subsequent meeting.
