BI to hear about almost $47.33 million budget Sept. 17

By Steven Powell • September 14, 2024 1:30 am

The worst-kept secret in America is government needs a lot of money to operate.

It’s no different on Bainbridge Island. The biggest difference on BI is a huge one – it balances its budget.

City manager Blair King will present the budget for 2025-26 to the City Council at its meeting Sept. 17 at 6 p.m. on Zoom and at City Hall. He will also present the Capital Improvement Plan for 2025-30

General Fund revenues are forecasted to be $47.475 million. General Fund expenses are forecasted to be $47.329 million, for a budget $146,000 to the good.

City documents say despite reduced revenues and increased costs the city did not have to use reserve funds to balance the budget. No layoffs are needed, but no new positions are proposed either. However 3.5 positions that had already been approved will remain vacant.

Oct. 8 is the first public hearing on the budget and will be the first time the council will provide feedback on it.

The budget expresses the city’s priorities and services to the community. The proposed budget follows months of work by staff and the council, including review and approval of the city’s financial policies, and the cost allocation methodology and manual.

The steps to adopt the budget are: 1. The city manager must submit a proposed budget to the council no later than Oct. 7 (first Monday in October). 2. The city must hold a minimum of three public hearings that consist of: (i) Revenue (property tax) hearing – the city must certify to the county assessor by Nov. 30 (ii) Preliminary Budget Hearing (iii) Final Budget Hearing – it must done no later than Dec. 2 (first Monday in December). 3. Council adopts budget – Takes place after final public hearing and prior to the beginning of the fiscal year (Dec. 31).

The Capital Improvement Plan contains a list of capital projects with estimated costs and proposed methods of financing and is updated annually. Capital labor costs associated with each of these projects are included.

The budget including transfers is $144.3 million, which is about 1.5% less than the previous budget.