No economic plan

Without significant change in economic policies, Sammamish will not be able to maintain and develop infrastructure, provide adequate levels of service, and protect the value of Sammamish properties and homes. Here are the facts.

Between 2007 and 2009, city revenues decreased by $4.8 million. During the same period, City operating expenditures went from $26.6 million to $30.1 million, a $3.5 million increase.

Combining the increase in expenditures with the decrease in revenues, the City’s budget shrank by $8.3 million.

Remove $5.3 million from the general fund and transfer it to an emergency revenue stabilization fund and it is easy to see the $8 to $10 million saved on road projects is no budget windfall.

Looking ahead to 2010, the city’s beginning fund balance drops from 50.8 million in 2009 to $11.7 million in 2010.

Between 2007 and 2010, the city experienced a 45 percent drop in adjusted income from $103 million to $56.8 million.

This decrease is in the context of vigorous budget controls, service reductions, fee increases, project delays, project scope reductions, and other cost cutting activities.

In June of 2008 at a budget retreat, Stan Finkelstein, Executive Director of the Association of Washington Cities, told the city council they needed to increase revenues and diversify the city economy or else face a major crisis.

A year has passed and the city council has not yet responded to Mr. Finkelstein’s warning. Ten years without an economic development plan leaves Sammamish on the brink of an economic crisis.

How will Sammamish stop this economic decline?

Can past policies meet future realities?

John Galvin

Sammamish