|Temperature: 64.6°F | Humidity: 79% | Pressure: 30.19in (Rising) | Conditions: Overcast | Wind Direction: East | Wind Speed: 4mph|
BUDGET SHORTFALL: MONROE SEEKS WAYS TO SAVE MONEY
July 17, 2008
(MONROE, WA) – The city of Monroe continues to struggle for ways to deal with a large projected budget shortfall brought about by the slowed economy, high gas prices and the rising cost of medical benefits for city staffers among other factors.
The city's general fund income is expected to be just under $1 Million dollars less than was previously expected this year. That's roughly 8 percent of the total $12.2 million general fund. The city's total budget is about $65.1 Million dollars.
City officials want to balance the budget without raising taxes but there will be a $7 Million dollar bond issue on the November ballot, which would pay for road projects over the next few years. If voters approve it that bond will raise property taxes for Monroe city residents.
Mayor Donnetta Walser said city staff layoffs are still under consideration as are other options to shave that $1 Million dollar shortfall and bring the budget in line.