Residents can voice their thoughts on a proposed City of Lakewood budget amendment for 2013 tonight during a public hearing at the Lakewood City Council meeting.
The proposed budget adjustment makes the following types of modifications to the current biennium:
- Revise the beginning fund balance by adjusting the estimated amount used during the original adopted budget process to reflect the final 2012 ending fund balance
- Housekeeping adjustments to incorporate items previously approved by Council
- Reflect projects funded by grants and contributions
- Changing operating trends and conditions
- New allocations
Washington state law requires cities that are on a biennial budget cycle perform a mid-biennial review and modification of that budget. The review is to occur no sooner than eight months after the start nor later than the conclusion of the first year of the biennium. The proposed budget amendment is focused primarily on year 2013 with related adjustments to year 2014. We are currently reviewing the 2014 budget in greater detail and will submit to Council a more comprehensive budget adjustment request in April 2014.
The Lakewood City Council conducted a study session on the proposed budget amendment November 25. It is scheduled to discuss the proposed amendment tonight and adopt the budget ordinance Dec. 16.
For more information, visit the Finance Department online at /government/departments/finance .