Fiscal Sustainability Plan: Important Dates
Posted on 05/03/2019

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.

We’ll post all meeting materials and documents on the webpage newcastlewa.gov/fiscalplan as soon as they are available. 

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.

For the latest news, related documents and background information on the Fiscal Sustainability Plan, bookmark newcastlewa.gov/fiscalplan.

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