Laserfiche WebLink
HOW DID WE GET HERE? <br />THE RECESSION OF 2001/2002 CAUSED THE STATE TO SLASH <br />LOCAL GOVERNMENT AID TO CITIES STARTING IN 2003. <br />MOUNDS VIEW AID DECLINED FROM $790,000 IN 2002 TO $0 IN <br />2006, THIS REPRESENTED 16.5% OF THE 2002 BUDGET. <br />THE CITY COUNCIL WAS FORCED TO INCREASE PROPERTY TAXES <br />TO REPLACE SOME OF THE LOST AID (2004 –19%, 2005 –25%) <br />FUND BALANCE DECLINED BY 36% IN 2003 TO ABSORB THE AID <br />REDUCTION THAT WAS PASSED ON TO CITIES AFTER THEIR <br />BUDGETS WERE SET. (NOT THE LAST TIME THIS HAPPENED)