07Dec2010
Construction Woes Force Bellevue To Shave $16 Million From General Fund
The mayor blames a shortfall on a lack of new development in the city. New apartments are going up on Main Street in downtown Bellevue, but construction is not what is once was. Construction projects are down, resulting in a 16 percent sales tax reduction — an all time low for Bellevue.
Full King5 Article: http://www.king5.com/news/local/Construction-woes-hurting-Bellevues-economy-111418909.html
The real reason they are so under budget is because they kept increasing the budget like they could expect tax revenue to increase every year, when in fact, they (and any reasonable person) knows that there are always cycles in the economy. (what goes up must come down)
We do not need more government spending, we need more fiscally responsible leadership.
Bellevue’s budget is produced every two years and includes a seven-year capital improvement plan. The city government is responsible for building and repairing roads, providing police and fire protection, as well as maintaining parks, open space and recreational centers.
If anyone is interested in comparing past figures, you can find historic city budgets on the city’s website: http://www.ci.bellevue.wa.us/budgets.htm