Everett Council Budget Committee: July 15, 2026

The City of Everett Budget and Finance Committee met on July 15, 2026, to review the 2025 budget performance and discuss the 2027 budget process. Finance Director Chris Godwin presented an overview of the city's financial status, highlighting a positive variance of $8.5 million due to higher-than-expected revenues in grants and internal service charges offsetting sales tax shortfalls. The committee reviewed the Capital Improvement Program (CIP) funds, including CIP1, CIP2, and CIP3, which support major projects such as the main library HVAC replacement, police facility renovations, and park improvements. The current CIP fund balance stands at approximately $21 million, with discussions on the strategy of accumulating funds for large projects and concerns about deferred maintenance funding. The committee also discussed the city's rainy day fund balance of $3.8 million and debated the use of fund balances to avoid budget cuts. The 2027 budget timeline was outlined, including departmental submissions, hearings, and final approval by December 2, 2026. Council members expressed interest in prioritizing economic growth initiatives, improving permitting efficiency, and exploring grant-funded AI resources to streamline operations. No specific contract awards or vendor selections were discussed during this meeting.