HomeMy WebLinkAbout11-03-2021 2021-2022 Budget2021 =2022 Biennium
Budget Amendment
Midyear Adjustment
City Council Meeting
November 3, 2021
Overview
✓ Amending budget for items that city
council has previously approved
✓ Extending project spending forward
from 2021 to 2022
✓ Funding needs from savings not known
at time of Budget adoption
General Fund
Economic support adjustments:
✓Transfer $700,000 to Community Center
✓Transfer $150,000 to Dumas Bay
Insurance premium increase adjustment
Police force expansion —13 officers, 2 staff
Planning Department Sound Transit project
IT security
Other Funds
✓Arterial pavement repair and 2020 overlay project
completed in 2021
✓Residential arterial street carryforward
✓Jail services decrease, monitoring fund balance
✓Transportation CIP projects
✓Police vehicle fleet expansion 28 patrol cars
✓Body worn camera program
✓Transfer $700,000 to Community Center
✓Transfer $150,000 to Dumas Bay
Conclusion
Council -approved items will now be in
sync in amended budget
Net increase to total fund balances in 2021
All funds remain within City Council's Fund
Balance Reserve policies
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Recommendation
Staff recommends approval
Next Steps
Timeline
✓ Oct. 26 - FEDRAC discussion
✓ Nov. 3 — Public Hearing, Amendment
o Nov. 16 - Public Hearing, Amendment
o Dec. 7 — Enactment Ordinance
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City of Federal Way
Finance Department
An increasingly well -managed city
