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October 30,2002 <br /> at reductions in staff through attrition.Each job opening will be scrutinized <br /> carefully and replacement will be kept to a minimum.The 2003 budget <br /> has been balanced in part by an attrition plan that results in the <br /> elimination of 8.4 positions from the general government without the need <br /> for layoffs. <br /> Across-the-Board Balancing Reductions: Even after the <br /> departments were informed that no new aintenance and operations <br /> dollars could be added to support their operations,a 1.5%reduction was <br /> imposed.The department managers were allowed considerable freedom <br /> as to where the cuts were to be made.The cooperation from every <br /> division of the City was greatly appreciated and the net savings of ready <br /> $1 million will be administered with a minimum of service impacts. <br /> Other Budget Actions:A second look at our scheduled contribution <br /> to the 800MHz radio system indicates that we can achieve a onetime <br /> savings of$340,000 for 2003 while still maintaining a healthy reserve <br /> balance in the Public Safety Equipment Reserve.Because staffing has <br /> been increased over the years In both Police and Fire,the need for large <br /> overtime budgets has been reduced.A reduction of$322,000 can be <br /> realized while leaving sufficient funding in this area. <br /> Although this budget proposes that we scale back the current <br /> years contributions to fund future Police and Fire pensions,we continue <br /> to voluntarily prepay these obligation ata rate that will have the pensions <br /> completely funded 33 years ahead of schedule. <br /> OUTLOOK:2003 through 2007 <br /> The City of Everett has a strong history of strategic budgeting and <br />• <br /> financial forecasting.Such quality forecasts—and here I offer a very <br /> specific"thank you"to Budget Director Bill Cushman and his staff— <br /> enable decision makers to see the impact of today's decisions on the <br /> City's financial position over a five-year pedod.Wl.ile we make no <br /> pmtense of being able to tell the future,we do have well-developed tools <br /> that enable the Administration and Council to chart and follow the <br /> assumptions that shape expenses and fund balances.And I can tell you, <br /> the overall ou0ook is not encouraging.Given the basic assumptions In the <br /> areas of inflation,labor cost of living adjustments,and medical costs, <br /> 361 <br />