City officials are taking steps to address declining city revenues in light of local and nationwide economic difficulties. City revenues in most areas are continuing a downward trend, as anticipated late in 2008.
Most revenues, such as those generated by development permit fees, real estate sales and other sales taxes, are coming in even below the conservative projections upon which the 2009 adopted budget was based.
"We are watching trends carefully and every month we've been disappointed in what we see," Bellingham Mayor Dan Pike said. "Revenue from most sources is coming in below even our very conservative projections. While the General Fund has seen challenges for the past year, in the last six months most City funds have fallen short of projections, making it important that we reduce costs City-wide, not simply in General Fund expenditures."
"These shortfalls leave us with no choice but to make some very difficult decisions," Pike said. "We are doing everything we can to maintain quality public services and protect people's jobs while ensuring financial stability. The proactive steps taken in 2008 and 2009 are softening the effects of these declining revenues. Unfortunately, as we forewarned the Council may be the case, this is not proving to be enough."
Updated: Feb 26, 2009
