FEB. 18, 2020 UPDATE
FISCAL SUSTAINABILITY PLAN
On Feb. 18, 2020, the Newcastle City Council adopted a Fiscal Sustainability Implementation Plan. View the adopting resolution in the document center below.
NOV. 15, 2019 UPDATE
2020 BUDGET & FISCAL SUSTAINABILITY
The 2020 budget will again be the main focus at the Newcastle City Council’s Nov. 19 meeting. They'll continue to review, discuss and propose amendments to the budget. During last week's meeting, they whittled the projected 2020 operating deficit from about $1.3 million to a little more than $1 million. You can read about that in the Nov. 5 Council meeting recap.
The Council will get things going early with a 5 p.m. special meeting where they'll discuss topics such as the Transportation Master Plan and the draft Fiscal Sustainability Plan. Councilmembers will focus on a "blended scenario" that emerged from that process. Learn more about the Fiscal Sustainability process at newcastlewa.gov/fiscalplan.
OCT. 3, 2019 UPDATE
2020 BUDGET
The Newcastle City Council’s work to adopt the 2020 budget kicks in to high gear this October. Following an initial City Council budget retreat held in August, the process continues at the Oct. 15 meeting, when City staff will officially present the 2020 Preliminary Operating and Capital Budget. From there, the Council will review, discuss and perfect the budget over the next month. Citizens are encouraged to participate in the budget process and offer comments and suggestions at any of the three scheduled public hearings. Follow the progress on the 2020 budget on the webpage newcastlewa.gov/budget2020.
AUG. 12, 2019 UPDATE
CITY COUNCIL BUDGET RETREAT - AUG. 15
The Newcastle City Council will take a look at preliminary revenue and expenditure forecasts, and discuss the 2020 budget during a retreat Aug. 15, from 8:30 a.m. to 4:30 p.m. in the Council Chambers at Newcastle City Hall. The annual City Council retreat is a normal part of the budgeting process that sets the stage for the City Manager’s October presentation of the preliminary budget for the following year. This year, the Council also will discuss strategies to resolve Newcastle’s forecasted long-term financial challenges. View the retreat agenda packet in the document container folder labeled Aug. 15 Budget Retreat below.
JUNE 25, 2019 UPDATE
FISCAL SUSTAINABILITY STUDY SESSION - JULY 2
Newcastle's City Council will continue work on developing a Fiscal Sustainability Plan to ensure Newcastle’s long-term financial stability at a study session Tuesday, July 2, starting at 4 p.m., at Newcastle City Hall. Stay informed about the fiscal sustainability process by attending the study session, and share your thoughts during the open public comment period provided during the regular City Council meeting, which starts at 7 p.m. Meeting materials will be posted in the document container below, when available.
JUNE 18, 2019 UPDATE
TOWN HALL MEETING
More than 200 people joined us at The Golf Club at Newcastle for the annual Town Hall meeting. This year, the presentation focused on the Council's work to develop a Fiscal Sustainability Plan. We'll post meeting materials in the document container below in the folder labeled June 18 Town Hall meeting, when available.
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.
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!