On Sept. 11, Brian McLean reported on Port Townsend’s projected revenues by quoting the city accountant: “Expenditures are outpacing revenues by 14 percent annually.”
What this means is that projections showed that the city will take in less revenue than it spends on normal operating expenditures.
Projections showed ending balances in the city’s major funds (general, street, and community service) falling in 2020 and going negative (expenditures exceeding revenues) by 2025.
It is projected that these deficits will steadily increase until at least 2040.
Factors causing this are the inflation of city expenses and the fact that the city council has a history of paying for projects with city council debt.
This debt, not approved by public vote, requires about $1.7 million in annual payments.
As a result, there’s less money available for normal operations such as street repairs but also in projects such as reducing traffic problems, affordable housing and attracting living-wage businesses.
The only steps taken by the city council to improve the financial health of the city has been to repeatedly ask residents and businesses to pay more in utility fees and property taxes.
These records showed that the financial health of Port Townsend is currently not sustainable.
Please vote for council candidates with willingness to address the city’s financial problems without asking residents to pay more from their family budgets.
I recommend voting for the challengers.
Robert Gray,
Port Townsend
Robert Gray is a Port Townsend City Council member. He is not running for re-relection.