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Finance director presents first reading of 2026 budget amendment showing nearly $2.4M beginning-balance variance
Summary
Finance Director Kristen Reed presented the first reading of Ordinance 2841, noting an almost $2.4 million difference between estimated and actual beginning fund balances and identifying FTE and revenue/expense adjustments; the item was presented for first reading with no council action taken.
At the June 22 council meeting Finance Director Kristen Reed presented the first reading of Ordinance 2841, the city’s first budget amendment for 2026.
Reed told the council that the difference between the estimated beginning fund balances and actual beginning fund balances was "almost 2,400,000," driven largely by projects that were not completed and rolled into the current year. Reed said the amendment reconciles those differences and moves the amounts to estimated ending fund balances.
Reed highlighted personnel and fiscal details: the media-services technician position would increase from 0.5 FTE to 1.1 FTE, and an administrative specialist position in finance would be added as a temporary 0.5 FTE while the city implements new financial software. She said the amendment showed a revenue increase of roughly $1,400,000 (primarily grants and project rollovers) and an expense increase of about $2,600,000, leaving an increase to the ending fund balance of just over $1,000,000.
Because this was a first reading, the ordinance was presented for council consideration and questions; no council action or vote on final adoption occurred at the meeting.
Reed offered to answer questions; none were recorded in the public transcript.
