Kenmore, WA – Kenmore’s Financial Sustainability Task Force will be reconvening in the month of August to continue working on a Financial Sustainability Plan. The Task Force has been on hiatus since April due to the COVID-19 pandemic.

Last fall, the Kenmore City Council approved a process for creating a Financial Sustainability Plan and a charter for a task force of seven community members to assist in solving a forecasted $2 million structural deficit by 2026. Although the City of Kenmore has a record of adopting balanced budgets, the forecast showed operating expenditures exceeding operating revenues by 2022. This problem has been further exacerbated by decreased revenues and budget shortfalls caused by the pandemic. The Task Force, city staff and consultant Management Partners have been working together to review the issues, determine the problems and advise on future steps.

The Task Force, city staff and Management Partners will be reconvening in a series of meetings this August in an effort to move forward with examining the issues, some of which are still unfolding due to the effects of the pandemic, and discussing possible solutions. The City is also asking for additional input from public through an online budget simulator called Balancing Act (available online from August 11 – August 24) and a virtual open house where comments and input will be welcomed.

 The Task Force will consider recommendations from Management Partners and input from the public. It is anticipated that the Task Force will produce recommendations for a Financial Sustainability Plan by August 25th. The City Manager will bring forward recommendations from the Task Force, Management Partners, and any other recommendations he may have to the City Council in September. These recommendations will assist the City Council as they begin deliberations on the 2021-2022 biennial budget. The goal of this process is to create a plan which reflects the community’s priorities and values while balancing revenues and expenditures for the next six years.

Financial Sustainability Task Force Meeting and Public Engagement Schedule:

• August 11th, 6:30 p.m. to 8:30 p.m. – Task Force Virtual Zoom Meeting
  • Management Partners will present recommendations for a balanced budget through 2026.
  • Balancing Act budget simulator will be reviewed and will be opened online for public input through August 24th.

• August 24th, 5:30 p.m. to 7:00 p.m. – Community Virtual Open House
  • Opportunity for the Task Force to hear the public’s ideas about how to ensure that the City is financially sustainable in the long-term future.

• August 24th, 7:00 p.m. – 9:00 p.m. – Task Force Virtual Zoom Meeting
  • Task Force will review initial findings from the Balancing Act budget simulator and Community Open House. Task Force will discuss and formulate recommendations for a balanced, six-year financial plan.

• August 25th, 6:30 p.m. to 8:30 p.m. – Task Force Virtual Zoom Meeting
  • This session is being tentatively scheduled if the Task Force is unable to finalize recommendations on August 24.

• September 10th, 7:00 p.m. – Kenmore City Council Meeting
  • The City Manager will present findings and recommendations to City Council.

     

For additional information on the Financial Sustainability Plan and Task Force, as well as links for the online budget simulator and to attend the upcoming virtual meetings, visit www.kenmorewa.gov/FSP. Links and instructions for attending virtual meetings will be available three days prior to the meeting date.