Laserfiche WebLink
October27,2000 <br /> proposed budget does not spend more on operations than the City <br /> revenue forecast. <br /> Before we review the major priorities that make up the 2005 budget,I <br /> want to take a moment to highlight a few of the accomplishments that <br /> mark this year. <br /> •Through the collaborative efed of City Council and <br /> Administration,we formalized the new General Government <br /> Fund Balance policy.This policy limits operating expenses <br /> to operating revenues. it also identifies a fund-balance <br /> target equal to 20 percent of annual revenues. <br /> Council's adoption of this policy was <br /> an <br /> important step <br /> forward. It provides a practical and fiscally prudent <br /> framework that will protect the City's financial future as It <br /> guides both day-to-day operations and long-tern capital <br /> investments. <br /> •We wrapped up negotiations to bring the final assembly of <br /> Boeing's 7E7 Oreamliner to Everett. Landing the 7E7 will <br /> help stabilize the future of the aerospace industry in our <br /> community,which ultimately means maintaining family-wage <br /> fobs..The latest sales data demonstrates the promise of this <br /> neat generation of aircraft. <br /> •Everett voters voiced their strong support of Everett Transit <br /> by approving Proposition f in September to increase the <br /> sales tax dedicated to transportation by three-terths of 1 <br /> percent. The additional resources will be used to restore <br /> and enhance transportation services In our city and ensure <br /> the viability of public transportation in Everett fora long time <br /> to come. I believe the successof this measure <br /> demonstrates our residents'confidence that we will manage <br /> their funds wisely. <br /> •We assisted the Everett Housing Authority in its efforts to <br /> reclaim contaminated property In Northeast Everett.When <br /> the cleanup and construction are complete,this revitalized <br /> 336 <br />