MAY 17, 2019 UPDATE
FISCAL SUSTAINABILITY PLAN WORKSHOP MATERIALS

The meeting materials from the May 14, 2019, Fiscal Sustainability Plan workshop are now available. Listen to the meeting audio, review a copy of the meeting slideshow and view the agenda packet in the document container below in the folder labeled May 14 Fiscal Sustainability Workshop.

MAY 9, 2019 UPDATE
FISCAL SUSTAINABILITY PLAN WORKSHOP

The meeting packet for the May 14 Fiscal Sustainability Plan workshop is now available. You can view the packet, which includes the full plan draft, in the document container below under the Fiscal Sustainability Plan Documents folder.

MAY 3, 2019 UPDATE
FISCAL SUSTAINABILITY PLAN: IMPORTANT DATES

Mark your calendars for two key dates as Newcastle develops a plan to address forecasted financial challenges. As public safety costs continue to rise and development income slows down, city expenditures outpace incoming revenue, creating an annual structural deficit in the budget. That deficit is projected to rise to over $1 million in 2020, and increasing each subsequent year, if the city takes no action.

The City Council is acting to ensure Newcastle’s long-term financial stability through the preparation of a Fiscal Sustainability Plan. Management Partners, a nationally-recognized firm, is developing the document that will explore strategies to resolve the identified gap.

MAY 14 - SPECIAL MEETING

The Newcastle City Council will get its first look at a draft of budget strategies to address Newcastle’s financial challenges during a May 14 special meeting at Newcastle City Hall. The Management Partners consultant will walk through a matrix of scenarios that identifies both short- and long-term approaches. The analysis includes everything from expenditure controls and service-level reductions to revenue enhancements and cost shifts.

The meeting starts at 4 p.m. on Tuesday, May 14 in the City Hall Council Chambers. It’s open to the public, but there will not be an opportunity for comment during this special meeting.

JUNE 18 - NEWCASTLE TOWN HALL MEETING

The Newcastle City Council will share the Fiscal Sustainability Plan’s findings and solicit public feedback on the plan and strategies during the annual Town Hall meeting at The Golf Club at Newcastle from 6:30-9 p.m. on Tuesday, June 18. Save the date! We’ll have additional details as the Town Hall gets closer.

MARCH 25, 2019
NEWCASTLE PREPARES FOR THE FUTURE WITH FISCAL SUSTAINABILITY PLAN

The City Council is acting now to ensure Newcastle’s long-term financial stability by preparing a Fiscal Sustainability Plan. A nationally-recognized firm will develop the plan to address forecasted financial challenges. As public safety costs continue to rise and development income slows down, city expenditures outpace incoming revenue, creating an annual structural deficit. That deficit is projected to rise to over $1 million in 2020, and increasing each subsequent year, if the city takes no action.

Management Partners will work with the City Council and staff to explore strategies that could resolve that identified gap. As part of this process, the firm will analyze a series of actions, from revenue enhancements and expenditure controls to service-level reductions and cost shifts.

“The Fiscal Sustainability Plan will provide Newcastle with the tools to face our financial challenges head-on,” said City Manager Rob Wyman. “This deep-dive examination of our city’s long-term financial health will help us make responsible decisions that ensure our community thrives for the foreseeable future.”

The City of Newcastle is committed to keeping residents informed and involved throughout this process. This webpage will serve as a hub for the latest information, meetings and documents. Bookmark newcastlewa.gov/fiscalplan to stay informed!

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