Thursday, July 3, 2014
Tacoma Citizens Asked How to Balance Budget
As the City of Tacoma develops its 2015-2016 Biennial Budget, members of the community are invited to participate in the following upcoming budget input meetings:
Revenues are projected to grow at 2 percent, but expenses are projected to grow at a faster rate. In order to maintain the levels of service provided by the City’s General Fund today, the difference between revenues and expenses is projected to be approximately $6 million in 2015-2016. This shortfall increases substantially if the City were to address deferred maintenance issues that have been delayed and provide funding for other capital and services.
The City is looking for ways to close the gap between revenues and expenditures by balancing the need for savings with the effective delivery of core services. Additionally, the City is working to prioritize funding between existing services, deferred maintenance, and new and expanded services.
A second series of Budget Input Meetings is anticipated to begin in mid-October, shortly after a Proposed 2015 – 2016 Biennial Budget has been transmitted to the City Council.