12-A Referendum Position Res - Laserfiche WebLink

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EXHIBIT P (continued) Unlike a business or individual, the City cannot just go to the bank and borrow money. Legal restrictions come into play. 6. Staff discussions with the City Council about the revenue short fall in the Water & Sewer Fund should lead to steps to address that issue in the near future. If not, the General Fund might have to bear part of that problem. In summary, the financial factors cited in the Association letter have all declined in the last two years. Even if they had not, fund balance alone is not a proper basis for initiating a reoccurring expense. Reoccurring revenues must equal or exceed all expenses to maintain or improve financial condition. It would be difficult if not impossible for the City to grant this pay increase, recoup its revenue short falls, compensate all of its employees, build the new Police facility, and provide reasonable levels of municipal services. Drastic measures including service reductions and employee lay offs would probably be necessary. It is easy for those who do not bear any of the responsibility to the public for managing the City to say they should have more. But those that bear the responsibility must have the final say.