Tentative budget totals $228 million; city shifts $832,000 to marina and raises contingency to $2 million

Staff presented a tentative budget that balances 30 funds totaling $228,000,000 and places the bulk of the additional revenue into contingency to address capital and maintenance needs.

Miss Campbell told the commission the general fund would be $50,000,000 in revenue with matching expenditures and that the paid-parking fund was adjusted to about $849,000 reflecting carryover plus a few weeks of projected revenue. To make up a $1.5 million shortfall to the marina program, staff proposed transferring $668,000 from the paid-parking carryover and $832,000 from the general fund into the marina fund.

Campbell identified seven line items that increased projected revenues by about $912,000 (including tourist development tax, an OPA pilot payment, gas taxes and franchise fees) and said the additional millage revenue has been placed in contingency—rising from $500,000 to $2,000,000—with an option to restrict $1,500,000 if the commission directs.

Why it matters: The budget adjustments respond to the end of the paid-parking program and reallocate funds to cover existing capital commitments, while creating a larger contingency to address potential future revenue threats.