Stan Finkelstein, executive director of the
nonprofit Association of Washington Cities, gave a dire warning to the Sammamish City Council last week. He said the city must diversify its revenue sources and prepare for state and
national funding reductions to maintain financial viability over the long term.
Finkelstein told the City Council that Sammamish has benefited despite the economic downturn by setting aside capital
funds, a luxury he said few cities enjoy. The city has also benefited
from having a relatively high median income, which was $101,592 –
almost twice that of similar cities – when the last U.S. Census was
conducted in 2000. The closest contender was Redmond, which had a
median income of $66,735.
But Finkelstein warned that increases in the federal debt and health
care costs will lead to reductions in entitlement programs and funding
for services like higher education. He also said Sammamish is likely to
face a rise in contract expenses and in the cost of delivering
services, and it will need to diversify its revenue sources as new
construction slows.
Published in the Sammamish Review. Read the story.