Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget And Finance topic
No spam. Unsubscribe anytime.
Council adopts Ordinance 5034 to consolidate funds and create capital construction fund
Summary
Ordinance 5034 consolidates three property‑tax‑reliant accounting funds into the general fund and establishes Fund 301 for governmental capital construction projects; Finance Director Steve Hoagland said the move will improve transparency and streamline budgeting.
The Anacortes City Council on Aug. 3 adopted Ordinance 5034, a 2026 budget amendment that consolidates three accounting funds (parks & recreation Fund 101, cemetery Fund 102 and library Fund 103) into the general fund and establishes Fund 301 as a governmental capital construction fund.
Finance Director Steve Hoagland told the council the change is intended to "improve transparency and streamline some of our accounting and budgeting processes," citing guidance from the state auditor's BARS manual that recommends minimizing the number of funds a local government maintains. Hoagland said two of the three funds were in a negative position at present and that consolidation would avoid repeated operating transfers to keep them solvent.
Hoagland also explained Fund 301 will house government capital projects (not utilities), making it easier to distinguish operating costs from long‑term capital spending. He noted that the event center planning costs discussed earlier that inflated planning-year numbers would be moved into the capital projects fund when appropriate.
Council Member Greer moved to approve the ordinance; the motion passed on a roll call vote (ayes 7, nays 0). The mayor said staff will publish web pages describing the fund changes on the finance and budget web pages to assist with the upcoming budget process.
