In anticipation of passage of the 2007 City of Spokane Budget later today, Mayor Dennis Hession reiterated the importance of conservative budgeting to improve the City's long-term financial health and stability.

"We have before us today an opportunity to substantially improve our financial position going into 2008 and beyond, and we should seize that opportunity," says Mayor Hession.

"Spokane's economy is strong and that has resulted in greater revenues in 2006," the Mayor continues. "Our 2007 budget proposal limits growth in City government to areas that continue to support an improved economy and job creation."

This conservative approach to budgeting already has led to an improved bond-rating outlook by Standard & Poor's, and still more efforts to improve the City's fiscal health are under way.

The City is engaged in a comprehensive Efficiency and Effectiveness Study that will result in a series of recommendations on how to more effectively use our annual resources. Results from that study are expected in January.

"When we asked voters to approve the levy lid lift last year, we committed that we would be good stewards of tax dollars and keep spending in check," the Mayor says. "The Efficiency & Effectiveness Study is designed to help achieve those goals."

For 2007, the Mayor developed a strategic budget that avoids new embedded costs and includes substantial savings for challenges anticipated in 2008.

The Mayor's proposal also includes a handful of key investments designed to help our economy continue to grow and prosper. There also remains strong emphasis on the quality services our citizens deserve and expect from their city government.

Mayor Hession filed his budget on Oct. 30. The City Council held 5 weeks of public hearings on the budget, concluding last week. The City must adopt a balanced budget for 2007 prior to the end of year, in accordance with state law.