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Finance director presents first reading of 2026 budget amendment showing $2.4 million variance
Summary
Finance Director Kristen Reed presented the first reading of Ordinance No. 2,841 reporting an almost $2,400,000 variance between estimated and actual beginning fund balances, proposed FTE changes, and net ending fund balance increase of just over $1,000,000.
Finance Director Kristen Reed presented the council with the first reading of Ordinance No. 2,841, the city's first 2026 budget amendment, reporting an almost $2,400,000 difference between estimated and actual beginning fund balances and outlining proposed staffing and fund changes.
Reed said much of the variance resulted from projects estimated to finish in the prior year that were not completed, creating rollovers. She highlighted staff recommendations including increasing the media services technician position from 0.5 FTE to 1.1 FTE and adding a temporary 0.5 FTE administrative specialist in finance while new financial software is implemented. Reed told council members that the revenue increase shown in the ordinance was $1,400,000 (mostly rollovers and grants), the expense increase was $2,600,000, and "the increase in our ending fund balance after this budget amendment is just over 1,000,000." Reed answered council questions and noted this was a first reading; council took no final action at the June 22 meeting.
Reed said most items in the amendment had already appeared on the consent agenda in earlier meetings, but she offered to answer follow-up questions at subsequent meetings.
