HomeMy WebLinkAboutCommittee of the Whole - 22 Jul 2024 - Agenda - Pdf
CITY OF RENTON
AGENDA - Committee of the Whole Meeting
5:45 PM - Monday, July 22, 2024
7th Floor Council Chambers/Videoconference
1. 2025/2026 BUDGET UPDATE
a) Presentation
If you would like to attend this week's meeting remotely, you can do so by going to
https://us02web.zoom.us/j/86753290028?pwd=M2pOc09HWWNrY05uVnlIWnpGS1E4UT09
Zoom Meeting ID: 867 5329 0028, Passcode: 881839
You can call through Zoom at (253) 215-8782 and use the Meeting ID.
2025-2026
BUDGET UPDATE
July 22, 2024
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25-26 Biennium Budget Timeline
May
Baseline Budget & Position Budgeting
June
Budget Survey;
CIP/Operating Budget Planning
July
CIP Prioritization/ELT Review
COW & Public Hearing #1
Aug.–Sep.
Mayor Final Decision on
Proposed Budget
October
Mayor Budget Message & Preliminary
Budget to Council;
COW Budget Presentations
Public Hearing #2 and #3
Nov.–Dec.
Introduction & Enactment of Budget
Related Legislation
Final Adoption
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Budget Development
Identify funding for ongoing expenditures
Analyze historical spend to inform future spend
Reallocate unspent budget to areas of need
Consider ongoing operations and maintenance
costs and replacement funding for new
investments
New requests should align with city’s business
plan
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Capital
Investment
Program (CIP)
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Budget Priorities ”Align internal service resources to
accomplish department objectives in
support of the city’s business plan.”
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Community
Engagement
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Budget
Considerations
Future market forecasts
Anticipated revenue growth/decline
Inflation
Personnel costs
Vehicle/equipment costs
Insurance premiums
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Primary Revenue Sources
*Other revenues include charges for services,
licenses/permits, intergovernmental, fines/penalties and
interest
23%
19%
28%
30%
- 10.0 20.0 30.0 40.0 50.0
Other
Property Tax
Sales Tax
Business Taxes
2024 Budgeted Revenues2024 Budgeted 2025 Estimated Incr(Decr)
Business Taxes 41.3 43.3 2.0
Sales Tax 38.0 40.0 2.0
Property Tax 25.9 26.2 0.3
Other 31.2 28.4 (2.8)
136.4 137.9 1.5
in millions
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General Fund
Allocation of
Resources
Based on 2024 Budgeted
Expenditures Personnel
69%
Supplies/Misc
3%
Contracted Services
19%
Capital Outlay
9%
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$97
$102
$191
$219
$550
$932
$111
$106
$192
$233
$572
$984
Internal Support
Representative Government
Mobility
Livable Community
Safety & Health
Utilities & Environment
2024 2023
City Service Area Operating
Cost: per capita per year
Average operating budget per resident, per year is $2,198, or
$6.02 per day
When employment base is included – $1,282 per person per
year, $3.51 per day
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General Fund through Q1, 2024
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Next
Steps
Balance budget
Align budget with community feedback
Department budget presentations
Budget adoption
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Questions?
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