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Home My WebLink About12/03/2025 5AAGENDABILL CITY OFBREMERTON 5ACITYCOUNCIL SUBJECT:Study SessionDate: N/A Public HearingonOrdinanceNo.5529COUNCIL MEETING Date: 12/3/2025 toapprove the2025-2026Mid-Biennium Department: FinancialServices Budget Update Presenter: MikeRiley Phone: (360) 473-5303 SUMMARY:Thepurpose oftcomments andfinal actionon the budgetforthe2025-2026mid-bienniumupdate. Themid-biennium updateanticipatesapropertytax increase ofthefull1% asallowedbylaw.Utilitytaxrates havea projectedincrease of3% yearover yearfor water,wastewater, andstormwater.Theproposed budgetalsomaintainsthe B&Otax exemption rateto $1,040,000and includes interfundtransfersbetweenfunds whereappropriate. Overall, therevenueprojections throughoutallfunds remainconservative. ATTACHMENTS: 1.2026Revenues & Expenditures Summaries 2.OrdinanceNo. 5529 3.FTEAuthorizations FISCAL IMPACTS(IncludeBudgetedAmount): Totalproposed general fundexpenditures, withoutendingfund balancefor2026, is $62,727,684. With endingfund balance, totalgeneralfundexpendituresis $70,977,858. Totalproposed expenditurescity wide, for2026 withoutendingfundbalance, is $186,480,204. With endingfundbalance, totalexpenditurescity wide is $253,942,230. STUDY SESSION ACTION:Consent Agenda GeneralBusiness PublicHearing RECOMMENDED MOTION: MovetopassOrdinance No.5529toapprove andadoptthe2025-2026Mid-BienniumBudget Updateinaccordance withRCW.35A.34.130 COUNCIL ACTION: Approve Deny Table Continue NoAction FormUpdated 04/19/2024 Docusign Envelope ID: F4D63EB1-84B1-42D8-B335-443CA367E9E5