By Charlie Pancerzewski
Former Mukilteo City Councilmember
City Council needs to ask tough questions about budget, revenues | Guest View
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Last updated 7/19/2020 at 5:31pm
The Mukilteo City Council Agenda Bill 2020-61 refers you to the Budget pages xiii-xv and says "The City's Gap Closing Policy outlines specific reporting requirements dependent upon the level of Gap ..."
Definition
"Gap" refers to any one year when anticipated expenditures exceed anticipated revenues in any of the next three years."
A. Purpose
"The Gap Closing Policy is established to ensure that the City can sustain on-going operations."
B. Implementation
"The City's Finance Director shall inform Council during the Quarterly Financial Update whether the General Fund is expected to experie...
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