Shoreline City Council adopts balanced 2016 City budget

On November 23, the City Council unanimously adopted the City’s 2016 budget. The 2016 budget is balanced at $79.4 million, which is a decrease of $3.9 million, or 4.7%, from the current 2015 budget. 

The 2016 budget allocates resources to maintain service levels desired by Shoreline’s residents and complies with the City’s adopted budget and financial policies.

The City’s operating budget (General Fund and Street Fund) totals $43.8 million. This is a 4.9% increase over the current 2015 budget. The increase is primarily the result of a one-time General Fund allocation for high priority capital projects in the amount of $2.65 million.

These projects include substantial pool maintenance, a 185th Street corridor study, design of Westminster Way and N 155th Street intersection improvements, a grant match allocation for roads projects, and the Police Station at City Hall. Excluding the one-time $2.65 million allocation, the change from the 2015 to 2016 operating budget is a 1.5% decrease.

As part of the 2016 budget, Council increased funding for Hopelink’s rental and utility assistance programs by $19,600 and for the Shoreline-Lake Forest Park Senior Center by $26,000. In total the City’s 2016 budget includes $548,650 for funding human service needs in the Shoreline community. 

These dollars are provided to 12 service agencies to deliver 24 service programs to Shoreline residents, with the largest allocations going to Hopelink, Shoreline-Lake Forest Park Senior Center and Center for Human Services. These entities serve over 4,700 people from the Shoreline community.

The City maintains fully funded reserves that meet or exceed City policies. The City’s Revenue Stabilization Fund (“rainy day reserve”) totals $5.2 million, equal to approximately 33% of the City’s economically sensitive operating revenues. This exceeds the 30% minimum established by the City Council. The 2016 proposed budget also provides a General Fund ending fund balance of $4.8 million. This is 121% of the City Council’s minimum policy requirement of $3.96 million. The City’s total undesignated general reserves are estimated to total $10.5 million at the end of 2016.

As a result of the Council’s strong financial policies, diligent financial management, and conservative budget planning, the City continues to maintain its AA+ bond rating and a Standard & Poor’s (S&P) financial management rating of “stable.” The City has a perfect record with 20 Unqualified (clean) Audit Opinions, and has received 16 consecutive Government Finance Officers Association Budget Awards.

More information about Shoreline’s budget here or contact Administrative Services Director Sara Lane at 206-801-2301.