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October 30.2002 <br /> combined with diminished revenue growth,our challenges will become <br /> more complex and resistant to easy fixes. <br /> City Council plays a very significant role In setting policies Nat <br /> influence how much the City will spend and how available funding will be <br /> allocated among departments. We are the benefactors of neatly a <br /> decade of careful fiscal management that allows us to weather the current <br /> financial downturn.While some of our neighboring communities may not <br /> be as fortunate,in 2003 we will maintain a healthy general fund balance, <br /> our rainy day fund Is intact,our reserves are strong,and we will maintain a <br /> stable workforce without anticipnred layoffs. <br /> Future Trends:It is easy to take for granted the many services our <br /> City government provides,such as youth and family-oriented recreational <br /> activities,a variety of senior services,well-maintained streets,libraries <br /> that are accessible seven days a week,and many other amenities we <br /> erioy on a daily basis.Yet we must not lose sight of the fact that all of <br /> these services require both staff and operational funding to continue. <br /> Despite our conservation efforts,there is no question that the rising cost <br /> of doing business Is outpacing our ue grow i.While we have <br /> managed to prepare a 2003 budget that maintains exmting service levels, <br /> our strategic outlook indicates that more drastic measnres wAI be <br /> ncessary In^104.We expect that the economy and voter-approved tax <br /> initiatives will continue to limit City resources and require us to make <br /> difficult decisions regarding which services must be trimmed or eliminated <br /> in order for the City to continue to operate within its means. <br /> I wish to thank the City Council and the committed,hard-working <br /> employees A the City for their continued efkvrts to provide the community <br /> with the highest level of services and a broad-based spectrum of <br /> programs that reach every citizens at some point in their daily activities. <br /> Even as we bring you the proposed budget for 2003,preparations ore <br /> currently underway for 2004 and beyond.For the future,we will continue <br /> to tailor the decisions we make today and everyday with an eye toward <br /> preserving our financial health and the ongoing prosperity of the City of <br /> Everett. <br /> Respectfully submitted for your approval. <br /> 382 <br />