2009/10/28 Council Minutes - Laserfiche WebLink

October28,2009 •No cost-of-living Increases for employees •Reduced general fund contributions to the street overlay program •Deferrals of projects and equipment replacements •Suspension of contributions to our LEOFF 1 police and fire pension funds for one year.With this action,we still expect these pensions to be fully funded by 2021—three decades before obligations are complete. While I present this proposed budget to you today,there are still uncedainties on the horizon that may change our circumstances dramatically,such as the health of the economy and measures on the November ballot. But regardless of what lies ahead,we believe that our community is best served by remaining steadfast In our commitment to managing Everett's (- finances conservatively. We wfll continue to make only careful and thoughtful public investments, maintain a conservative approach to debt management,fund capital Investments with cash-on-hand whenever possible;and most Importantly, control costs through limiting the growth of g0vemment and seeking new efficiencies in how we deliver essential public services that am vital to maintaining a superior quality of life for our residents. In dosing,I thank the Everett City Council for its leadership and commitment to our City,our volunteers,who give so generously of their time;and City staff members for their commitment to quality work.I look forward to working with each of you as we continue to serve the public. Respectfully submitted. Ray Stephenson Mayor 308