(The Center Square) – The Spokane Valley City Council approved the 2026 budget on Tuesday, filling a $1.5 million general fund deficit between nonrecurring revenues and spending with “excess” reserves.
Last December, the officials passed the 2025 budget, which balanced recurring revenues and spending while adopting a $1.1 million general fund deficit for one-time expenditures. The deficit surpassed $10 million on Tuesday after the general fund was amended to move existing reserves to other accounts.
Internal policy requires the city to maintain general fund reserves equal to at least 50% of spending in that account. After approving the 2026 budget and amending the outgoing framework, the council will have $36.5 million left over, which is about 53% of spending, with the citywide balance at $97 million.…