HomeMy WebLinkAbout11/06/2024 6B - No Action
AGENDA BILL
CITY OF BREMERTON 6B
CITY COUNCIL
Updated 11/5/24 4:57 PM
SUBJECT:Study SessionDate: October 23, 2024
Public Hearing on Revenue Sources for the COUNCIL MEETING Date: November 6, 2024
2025-2026Proposed Biennial City of
Department: Financial Services
Bremerton Budget
Presenter: Mike Riley
Phone: (360) 473-5303
SUMMARY:5-2026
ProposedBiennialBudget. The proposed biennial budget anticipates property and EMS levy
increases of the full 1% allowed by law, leaves utility tax rates unchanged, but changes the allocation
of stormwater taxes to certain funds. The proposed budget also anticipates a decrease to the B&O
tax exemption rate to $1,000,000and includes interfund transfers between funds where appropriate.
Overall, the revenue projections throughout all funds remain conservative.
ATTACHMENTS:1. Exhibit A Revenue Sources
The 2025-2026Proposed Biennial :2025-2026 Biennial
Budget | Bremerton, WA -Official Website
FISCAL IMPACTS(Include Budgeted Amount):
In 2025: Totalproposed general fund revenue, without beginning fund balance, is $55,666,274. With
beginning fund balance, total general fund revenue is $70,746,548. Total proposed revenue city
wide, without beginning fund balance, is $174,210,505. With beginning fund balance, total revenue
city wide is $252,176,925.
In 2026: Total proposed general fund revenue, without beginning fund balance, is $53,918,287. With
beginning fund balance, total general fund revenue is $65,009,208. Total proposed revenue city
wide, without beginning fund balance, is $168,127,279. With beginning fund balance, total revenue
city wide is $235,826,441.
STUDY SESSION ACTION:Consent Agenda General Business Public Hearing
RECOMMENDED MOTION:
Open Hearing for Public Comment.
COUNCIL ACTION: Approve Deny Table Continue No Action
Form Updated 04/19/2024