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City of Tukwila <br />Thomas McLeod, Mayor <br />INFORMATIONAL MEMORANDUM <br />TO: City Council <br />FROM: Aaron BeMiller, Finance Director <br />CC: Thomas McLeod, Mayor & Marty Wine, City Administrator <br />DATE: July 28, 2025 <br />SUBJECT: Mid -Biennium Adjustment <br />ISSUE <br />The kickoff for the 2026 mid -biennium adjustment took place on July 15. Finance team staff <br />provided an update on the process and timing for adjustments to the 2026 budget. <br />BACKGROUND <br />The City is legally required to adopt a balanced budget where resources are at least equal to <br />budgeted expenses. The mid -biennium adjustment provides an opportunity for the City to <br />update our assumptions made in the summer of 2024. Generally, the mid -biennium adjustment <br />provides an opportunity to better refine revenue and expenditure estimates which were <br />generated in the summer of 2024 for the 2026 fiscal year. We now have data available for 2026 <br />which wasn't available in August/September 2024. Typical adjustments include updating the <br />assumptions for COLA, healthcare benefits, and retirement rates, budgeting for any approved <br />initiatives in 2025 that continue into 2026, and other items. <br />The Council's role in the mid -biennium adjustment is the same as during a regular biennial <br />budget process. The Mayor will provide his recommendations for changes to the adopted 2026 <br />budget and Council will hold deliberations on the Mayor's budget and ultimately vote on a) the <br />updated 2026 budget and, b) the 2026 property tax levy. <br />DISCUSSION <br />This is a discussion item only, no Committee action is required. Staff will be available to answer <br />any questions/clarifications from Committee members. <br />FINANCIAL IMPACT <br />Discussion item only. There is no financial impact associated with this agenda item. <br />RECOMMENDATION <br />Discussion item only. There is no recommendation currently for future action. <br />ATTACHMENTS <br />None. <br />K <br />