City government

COBI: Asleep at the wheel

If one wonders why the 2008 City of Bainbridge Island budget is in trouble, look no further than the revenue assumptions on pages R-1 and R-2 of the final budget document.

The economy began to sink in August 2007 and the 2008 budget wasn’t passed by the City Council until mid-December. Nonetheless, the administration did not adjust a budget prepared in part based on the following revenue assumptions:

1) Sales taxes – up 20 percent from 2007 collections;

2) Real estate excise taxes – up 7 percent from 2007 receipts;

3) Commercial parking tax – up 15 percent over 2007 budget amounts;

4) Building permits – up 10 percent over 2007 collections;

5) Plan check fees – up 10 percent over 2007 collections;

6) Utility system participation fees – up 10 percent over 2007 collections;

7) Capital grants – sum of grants identified as “likely.”

DANIEL SMITH

Bainbridge Island