### Meeting Overview The Budget and Finance Committee met on October 6, 2025, to consider an ordinance creating a new fund for the Central Library facility renovation project. The committee unanimously approved the measure, which will help improve financial transparency and tracking for this major capital project. ### Key Terms and Concepts **Budget Amendment:** A formal change to the city's adopted budget that adjusts revenue or expense allocations, requires council approval through an ordinance. **Fund:** A separate accounting entity used to track specific types of revenue and expenses, ensuring transparency and compliance with legal requirements. **Library Gift Fund:** An existing city fund that holds private donations specifically designated for library purposes and operations. **Construction Fund:** A specialized fund created to track all revenue and expenses related to a specific capital construction project from start to finish. **Real Estate Excise Tax (REET):** A tax collected on property sales in Washington state, with a portion going to local governments for capital projects. **Budget and Finance Committee:** A standing committee of three council members that reviews financial matters before they go to the full city council. **Capital Project:** A major expenditure for building, renovating, or purchasing long-term assets like buildings or infrastructure. ### Key People at This Meeting | Name | Role / Affiliation | |---|---| | Lisa Anderson | Committee Chair, Fifth Ward Council Member | | Daniel Hammill | Committee Member, Third Ward Council Member | | Michael Lilliquist | Committee Member, Sixth Ward Council Member | | Eric Johnson | Budget & Treasury Manager, City Staff | ### Background Context Bellingham's Central Library, built in 1951 and last renovated in 1985, serves over 500,000 visitors annually and needs significant updates to meet current accessibility standards and operational needs. The $8.53 million renovation project represents a major investment in community infrastructure, funded through a combination of state grants, private donations, and city resources. Creating a separate fund for this project ensures clear financial tracking and transparency as construction moves forward in 2026-2027. ### What Happened — The Short Version The Budget and Finance Committee received a presentation from Budget & Treasury Manager Eric Johnson about creating a new fund for the Central Library renovation project. The ordinance creates the "Library Renovation Construction Fund" and transfers $255,000 from the Library Gift Fund for design work, while adding $100,000 to the Gift Fund for operating expenses. Committee Member Michael Lilliquist made the motion to approve, and the committee voted 3-0 to recommend the ordinance to the full city council. ### What to Watch Next • The full city council will consider this ordinance at their regular meeting later that evening • Design work on the library renovation will begin once funding is approved • Construction is expected to start in 2026 and continue into early 2027 ---