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October29.2003 <br /> things from her in the future as we look to develop the Riverfront property <br /> and promote the City's other great business locations,like Southwest <br /> Everett.the waterfront.and of course.the areassurrounding Everett <br /> Station end the Everett Events Center.I am not kgyou to appropriate <br /> new money or add additional employees. We were able to create this <br /> new department by reallocating existing resources. <br /> Public Safety remains the Citys N.1 priority,with 54 percent of my <br /> proposed budget allocated to this area.We are continuing our longtime <br /> commitment to the services our citizens depend on—police,fire and <br /> emergency medical services. <br /> At the same time,we are proposing no increase in general tax rates <br /> beyond the 1 percent increase in property tax limited by Initiative 747. <br /> Property taxes support all general govemment services,which include <br /> police,fire,streets,parks and libraries.This budget shows we are being <br /> responsible to our taxpayers,living within our means and providing them <br /> with necessary City services. <br /> This proposed budget reflects effective,efficient day-to-day management <br /> of City government,and funds services such as—fighting crime,making <br /> neighborhoods safe,providing public transportation,being good stewards <br /> of the environment,and creating a community that welcomes partnerships <br /> and investment. And,we are doing that once again without any City <br /> employee layoffs. <br /> The Future <br /> The City uses a five-year Strategic Outlook to model the financial future <br /> based on policies currency in place combined with anticipated economic <br /> trends.We can,through the Strategic Outlook,recognize discrepancies <br /> between revenue and expense trends and prepare approprtate and <br /> corrective responses well In advance.This has been a valuable tool for <br /> the City In preparing for and dealing with the nature of our economy. <br /> Commercial airplanes area cyclical product,and Boeing is currently <br /> entering the low-point of the latest cycle.We anticipate that this will last <br /> until 2007,when Boeings delivery numbers are expected to climb. <br />