HomeMy WebLinkAboutFIN 2025-07-28 Item 1C - Budget - 2026 Budget Adjustment Process DiscussionCity of Tukwila
Thomas McLeod, Mayor
INFORMATIONAL MEMORANDUM
TO: City Council
FROM: Aaron BeMiller, Finance Director
CC: Thomas McLeod, Mayor & Marty Wine, City Administrator
DATE: July 28, 2025
SUBJECT: Mid -Biennium Adjustment
ISSUE
The kickoff for the 2026 mid -biennium adjustment took place on July 15. Finance team staff
provided an update on the process and timing for adjustments to the 2026 budget.
BACKGROUND
The City is legally required to adopt a balanced budget where resources are at least equal to
budgeted expenses. The mid -biennium adjustment provides an opportunity for the City to
update our assumptions made in the summer of 2024. Generally, the mid -biennium adjustment
provides an opportunity to better refine revenue and expenditure estimates which were
generated in the summer of 2024 for the 2026 fiscal year. We now have data available for 2026
which wasn't available in August/September 2024. Typical adjustments include updating the
assumptions for COLA, healthcare benefits, and retirement rates, budgeting for any approved
initiatives in 2025 that continue into 2026, and other items.
The Council's role in the mid -biennium adjustment is the same as during a regular biennial
budget process. The Mayor will provide his recommendations for changes to the adopted 2026
budget and Council will hold deliberations on the Mayor's budget and ultimately vote on a) the
updated 2026 budget and, b) the 2026 property tax levy.
DISCUSSION
This is a discussion item only, no Committee action is required. Staff will be available to answer
any questions/clarifications from Committee members.
FINANCIAL IMPACT
Discussion item only. There is no financial impact associated with this agenda item.
RECOMMENDATION
Discussion item only. There is no recommendation currently for future action.
ATTACHMENTS
None.
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