City of Shoreline plans for a financially sustainable future - Open House Wednesday

The City of Shoreline will hold an Open House on Wednesday, May 14, from 6:30 to 8:30pm in the City Council Chambers at City Hall, 17500 Midvale.

Strengthening Shoreline’s economic base includes having a financial sustainability plan for providing City services to the Shoreline community. This plan is the 10-Year Financial Sustainability Plan (10YFSP).

The 10YFSP has been a two year process which included developing costs for every City service. Services were classified as either core services or quality of life services. City staff examined historical trends, developed future forecasts, analyzed economic development, and ultimately constructed a financial model for Shoreline’s future.

As a result of past actions on the part of the State Legislature and Washington’s voters, Washington’s governments share a common problem. The growth of revenues from things like taxes and fees is now slower than the inflationary cost increases of services. This is true even if no new services are added and existing services are preserved at current levels.

Simple math tells you that if revenues cannot keep pace with inflation, we will have fewer and fewer resources to provide the same level of service. In order to avoid that bleak outlook, the City developed several alternatives to balance revenues with costs. They include options that increase economic development, increase taxes and fees, and reduce the rate of future expenditure growth.

City staff will present the alternatives at the open house. Participants will be asked to complete a brief questionnaire about the models and alternatives before they leave. Their comments will be shared with the City Council. Council will discuss the 10-Year Financial Sustainability Plan at their June 2 meeting. Your participation in this important issue facing our community (as well as every community in Washington) is greatly encouraged.