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Finance director outlines $2.4M variance and first 2026 budget amendment
Summary
On first reading Finance Director Kristen Reed told council that differences between estimated and actual beginning fund balances totaled about $2.4 million, with revenue revisions of $1.4 million and expense increases of $2.6 million, producing an ending fund balance increase of just over $1 million; the ordinance is at first reading.
The council heard the first reading June 22 of Ordinance 2841, the city's 2026 budget amendment.
Finance Director Kristen Reed (speaker 12) told council that the difference between the estimated and actual beginning fund balances was “almost 2,400,000,” largely because several projects estimated to finish by year‑end did not, producing rollovers into the next year. She said revenue increases in the amendment total about $1,400,000 — mainly rollovers and grants — while expenses increase by about $2,600,000, leaving the amended ending fund balance roughly $1,000,000 higher than before the amendment.
Reed also noted personnel adjustments included in the amendment: increasing the media services technician position from 0.5 full‑time equivalent (FTE) to 1.1 FTE and adding a temporary 0.5 FTE administrative specialist in finance while new financial software is implemented.
Because this was a first reading, the council did not adopt the budget amendment at the June 22 meeting; Reed said she was available to answer questions.
