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1997 Budget which includes <br />1:11."4'" • <br /> October 30.1996 <br /> FINANCIAL MANAGEMENT <br /> As.,previous budget musages.aga.mess dais Adnaaration's <br /> continuing commitment to sarong Unsocial management and our focus on.. <br /> 'bottom line.'In City budget terms.Am bouom line is an"ending fund <br /> balance'or'ca.ca,fora.'on.positive side and en.end.g fund <br /> &kit"on.negative s..Dram.,sum law maid,dut 1 Pmaem to You <br /> balanced budget each year. <br /> am pleased to <br /> Amsosam..1 <br /> of$7present <br /> 8 million <br /> am prio'xtea expenses of$76.e million. <br /> 996 cash c <br /> of SI.2.million at <br /> end or 1996.. <br /> 1997 Budget projects an ended ingg final balance of 51.22 ion at Me end of • <br /> 1997 and projected ending(W.W.I:es for 1998 <br /> 9 WILTS million <br /> and 1.93 million.respectively.Although Me y,fwncil outlook continue <br /> continuallyto improve.dm Strategic Ciudoot for.years 2009 and 2p01 avenis projected <br /> clang fund deficits of SI.5 million and 84 01 mill.,respecilvely.Thus.we <br /> must c,inue our financial management carts as we move foranna.Our <br /> Our financial management efforts are challenged by an <br /> or.0,,including some which am beyondcl •example,in <br /> 1996 we began io realiae a dramatic reduction budgeted <br /> sales nu mem. <br /> which we then learned resulted from 1995 legislation Met exempted certain <br /> manufacquing aulvities front Ihe sales us.We ere now aroma:lacing Umber <br /> reductions.in s.stu revenues exempted <br /> manufacturing resew,and aevelepmew expenses and repair replacement <br /> or men...ring equipment from dr sales Because of Everers large <br /> manufacturiWee oily in Washington State.base,.sale,uxe cop i°ry°e ou Gryunrxg soy <br /> As the City Council considers MN propued l99,Bodge,W tie <br /> Strategic Outlook cblknaes we ar future years.please keep x prepared to minim mmesf uso�ber <br /> • Femnse Conon,ea In .flook continue <br /> to exceed projected revenues In Pogue rem 1999.MOO and 2001. <br /> However.us the comparison 1 provided earlier indiums.Me projected <br /> sn8 <br />