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Finance director presents first reading of 2026 budget amendment showing $1.0M net increase in ending fund balance
Summary
Finance Director Kristen Reed presented Ordinance No. 2841 as the first 2026 budget amendment, reporting an approximately $2.4 million variance between estimated and actual beginning fund balances, $1.4 million in revenue increases, $2.6 million in expense increases, and staff‑level FTE adjustments to support a new financial software implementation.
The council received the first reading of Ordinance No. 2841, the 2026 budget amendment, at its June 22 meeting.
Finance Director Kristen Reed told the council the primary purpose of the amendment is to reconcile estimated beginning fund balances with actuals; the variance was roughly $2.4 million. Reed said most of the change is attributable to projects that were estimated to be finished by year‑end but were not completed and therefore rolled over into the current year.
The amendment reflected an increase in revenues of about $1.4 million—largely rollovers and grants—and an increase in expenses of about $2.6 million, producing an overall increase in ending fund balance of just over $1.0 million. Reed highlighted personnel adjustments: increasing the media services technician from 0.5 FTE to 1.1 FTE and adding a temporary 0.5 FTE administrative specialist in finance while the city implements new financial‑software systems.
Reed said many items included in the amendment had already appeared on the consent agenda and that she would answer questions at later hearings; this was a first reading, and no adoption vote was taken. Councilmembers did not ask substantive questions during the first reading.
The amendment’s financial summary and FTE changes are shown in the ordinance chart Reed provided to council.
