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• <br /> October 2g,2008 • <br /> 2009 BUDGET MESSAGE <br /> October 29,2008 <br /> Council President Nielsen <br /> Members of the City Council <br /> Everett residents <br /> and City employees <br /> Like neatly every city in the nation,we too are affected by the challenges <br /> of a struggling economy. <br /> We understand our community members are feeling the pinch: paying <br /> higher prices at the grocery checkout and working more hours to make <br /> ends meet.The depth of the housing downturn and soaring energy costs <br /> are creating distress in communities across the nation at levels we've not <br /> seen since the Great Depression.While our region may avoid the worst <br /> of the economic fallout,we are certainly not immune to its effects. <br /> Today's financial environment is much different than that of just one year <br /> ego.Last year,in my budget message,I expressed enthusiasm over the <br /> City's fiscal outlook,with general government revenues growing by 6.9 <br /> percent in 2007.However,at the same brae,I said that we recognize the <br /> economy is cyclical and we would continue to make our day-to-day <br /> decisions with an eye toward long-term stability. This cautionary <br /> statement has become a reality as we see general govemment revenue <br /> growth dropping off sharply from the prior year,with virtually no increase <br /> expected for 2009. <br /> My core belief is that City govemment should provide needed services to <br /> our unity ata level we afford to maintain. It isn that <br /> underlying premise that we built the budget I am presenting to you day. <br /> This budget is a direct reflection of the conservative approach to financial <br /> management that we began in 2004 and centinue to this day.Through <br /> prosperous years and those in which resources were scarce,we <br /> 356 <br />