2011/11/02 Council Minutes - Laserfiche WebLink

November 2,20i1 As I mentioned earlier,we expect the recovery will continue to grind along ata very slow pace.Current thinking Indicates that It could take another 36 to 48 months before we see any significant return to a healthy rate of activity.But I eel also confident that strong economic growth will eventually occur,and when It does,it will likely generate pressure to spend the additional resources on new Initiatives without first restoring deferred reserve contributions and other basic Investments that directly relate to core services. I cannot stress enough the Importance of upholding the disciplined approach to financial management that has served our community so well. We must be thoughtful as we evaluate what Is Important to our mission and direct the public's resources accordingly. In keeping with this philosophy,at the earliest point possible,I will work to reinstate annual cantibutions to the police and fire pensions and capital Improvement reserves.I will also avoid expanding operations beyond our core mission or otherwise spending the additional revenues In ways that may not serve the public's long-term Interests. In closing,I want to thank you all for partnering with my administration through these difficult times and helping to preserve a strong financial foundation for our residents.We remain committed to making the most out of every resource available to us to preserve and enhance Everett's quality of life,both now and Into the future. Respectfully submitted, Ray Stephanson Mayor COUNCIL Council Member Roberts thanked Mayor Stephenson for his leadership. 301