Mukilteo council members fire back at mayor's budget plan
MUKILTEO — In a tense City Council meeting Monday, Mayor Joe Marine proposed a biennial budget that would leave little in general fund reserves by the end of 2026.
Mukilteo’s general fund is operating with an $810,000 deficit this year. Under Marine’s proposed budget, that deficit is expected to swell to nearly $2.7 million by 2026, leaving just over $2.5 million in the city’s general fund reserves.
City policy suggests maintaining a rainy day fund equal to two months of operating expenses, equivalent to 16.7% of the general fund. The city would be just over $900,000 short of that goal in 2026 if the proposed budget was adopted, with 12.2% of the general fund remaining.
Mukilteo is expected to annex the east side of the Mukilteo Speedway by early 2025, bringing in an additional $500,000 per year, the mayor said in an email Wednesday. The sale of Hawthorne Hall is worth another $500,000. This revenue will bring the general fund balance back above the 16.7% mark by 2026, Marine said.
https://www.heraldnet.com/news/mukilteo-council-members-fire-back-at-mayors-budget-plan/