04-02-2019 Budget Amendments
Presented by
Ade Ariwoola, Finance Director
April 2, 2019
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2019/20 Biennial Budget Amendments
City Council Meeting
APRIL 2, 2019
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RCW 35a.34.130 –
The legislative authority of a city having adopted the provisions of this chapter shall provide by ordinance for a mid-biennial review and modification of the biennial budget.
Background
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Adopted 2019/2020 Biennial Budget - December 4, 2018
Budget Meetings With Council
– March 14, 2019
Budget Presentation At FEDRAC
- March 26, 2019
Background-contined
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1 – Fund Balance Per Council Policy
- Maintain Required Balance
- Replenish FB Within 3 Years
- Strategic Reserve
- Parks Reserve
- Risk Management
2 – Outstanding Interfund Loan
- PAEC Operation - $0.45 million
- PAEC Construction - $7.4 million (6.8 million)
3 - Outstanding General Obligation Bonds
- Community Center - $9.9 million
- Target Property - $6.0 million
- SCORE - $12.9 million
Budget Factors
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Proposed Major Changes
in General Fund
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Proposed Major Changes
in General Fund
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Proposed Major Changes
in Non-General Fund
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Consider 1st reading of the 2019/20 Biennial Budget Amendment Ordinance.
Council Action
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Questions?
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