Tacoma finance officials 'cautiously optimistic' about latest favorable budget figures

Staff writerApril 30, 2013 

Bucking a recent onslaught of grim budget news, Tacoma city officials announced Tuesday its past two-year budget fared $4.5 million better than expected, and its current spending plan so far is $3.7 million ahead of target.

But city finance officials also cautioned it’s too soon to call the positive numbers a trend.

“While favorable variances exist, as the budget officer, cautious optimism is required,” Tad Wille told the City Council Tuesday.

Despite the good news, Wille noted, the city still faces “difficult challenges” ahead – namely, a $30 million to $40 million shortfall in its forthcoming 2015-16 General Fund.

Wille’s comments came during presentations to the council providing details of an end-of-biennium report for the 2011-12 general fund, and a first quarter report on the 2013-14 budget.

Read more here: http://blog.thenewstribune.com/politics/2013/04/30/tacoma-city-finance-officials-cautiously-optimistic-about-latest-favorable-budget-figures/

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