Kirkland Hosts Budget Open Houses in September

Financial Condition, Strategies to Balance Budget to be Presented

August 29, 2008 12:11 am
The City of Kirkland will raise property taxes another 1 percent this year but it won't be enough to cover the city's projected short-fall. The city only receives around 15 percent of property tax paid to the state.
The City of Kirkland will raise property taxes another 1 percent this year but it won't be enough to cover the city's projected short-fall. The city only receives around 15 percent of property tax paid to the state.

The City of Kirkland is hosting two Budget Open Houses to share the City’s current and future financial condition, explain the challenges it faces for the upcoming biennium budget, and to discuss the proposed strategies that, if implemented, will balance the 2009-2010 Budget. Kirkland citizens and businesses are encouraged to attend the Open Houses set for Wednesday, September 17 at the Peter Kirk Community Center and Monday, Sept. 29 at City Hall from 7 to 9 p.m.

A projected revenue shortfall of over $13 million for the 2009-2010 Budget is forecast and could be much greater if negative growth in retail sales continues. The shortfall represents more than 12 percent of the General Fund Budget which supports essential services such as police, fire, emergency medical, transportation and parks services. The General Fund is primarily supported by sales tax, which has declined over the past several months. Limited property taxes, the current economic downturn, and increased cost for basic goods and services are also negatively impacting the City’s revenue. The City has the ability to reduce costs, raise revenue and use reserves as ways to balance the budget.

Kirkland residents and businesses recently received a special edition of City Update, the City’s newsletter, which addresses how property taxes support general fund services and what sources of revenue the City receives to support those services. The publication also explains why there is a revenue shortfall in the upcoming budget and what strategies the City Council is considering to overcome the shortfall.

To stay informed about budget updates, visit the 2009-2010 Budget webpage at www.ci.kirkland.wa.us/budget , subscribe to receive the Kirkland Neighborhood E-Bulletin (www.ci.kirkland.wa.us) or host an informational meeting. For more information, contact Marie Stake, Communications Program Manager at (425) 587-3021 or mstake@ci.kirkland.wa.us.