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Finance director outlines $2.4M variance in first reading of 2026 budget amendment
Summary
Finance Director Kristen Reed presented the first reading of Ordinance 2,841, reporting about $2.4 million in beginning-fund-balance differences and proposed FTE adjustments tied to new financial software implementation; no vote was taken.
The council heard the first reading on June 22 of Ordinance 2,841, the 2026 budget amendment intended to reconcile estimated and actual beginning fund balances and move amounts to ending fund balances.
Finance Director Kristen Reed told the council the difference between estimated and actual beginning fund balances was "almost $2,400,000," largely reflecting projects that did not finish by year end and rollovers. The ordinance shows a revenue increase of roughly $1,400,000 (mostly grant rollovers) and an expense increase of about $2,600,000; after the amendment the ending fund balance would increase by just over $1,000,000. (Kristen Reed)
Reed noted personnel-related changes included increasing the media services technician position from 0.5 FTE to 1.1 FTE and a temporary 0.5 FTE administrative specialist in finance to support implementation of the city's new financial software. She said most items in the amendment had already appeared on the consent agenda but highlighted the FTE adjustments and rollovers for council attention.
This was a first reading; Reed offered to answer questions and no substantive council questions were recorded. The ordinance will return for later consideration and possible adoption.
