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Council approves $488,667 amendment to FY25 budget as officials warn of reduced forest receipts
Summary
Council approved Resolution 092524 to amend the fiscal-year-2025 budget by $488,667. Councilors and staff said reduced forest/timber receipts and state funding are tightening revenue forecasts, and finance staff noted an earlier $3 million harbor-related transfer that will be revisited during the budget cycle.
The council approved Resolution 092524, amending the FY25 budget by $488,667.
Council member Sherman moved to approve the resolution; the motion was seconded and passed after discussion. Sherman and other councilors noted several unexpected or lower-than-anticipated revenue lines. Sherman referenced a forester-related item that came in at $13,261 and said the timing of forest-receipt reductions and state-level changes will affect revenues beyond FY25.
The finance director told council that a $3,000,000 borrowing originally taken for the harbor had been transferred to cover general-fund cash-flow needs; staff said that figure will be revisited during the full budget process and that FY25 will absorb a portion of the transfer if the amendment is adopted.
Councilors urged a broader review during the upcoming budget cycle to reduce dependence on variable state and forest receipts and to explore other revenue-stabilization options. Several members thanked staff for presenting a clear snapshot of current revenue and expense projections.
Next steps: Staff will continue budget work in coming weeks, provide revenue worksheets to department heads, and return draft expense and revenue figures for council review in scheduled work sessions.
