Municipal budgets are required by law to be balanced, i.e. they cannot show a deficit. And so in a narrow sense they are always balanced.
In a broader sense, hidden deficits can be present in many ways. For instance, if street maintenance is not kept up, a deficit is created that will have to be paid later. Such deficits are functionally exactly like loans.
For many years Olympians have recommended that the city form a Budget Advisory Committee to advise the council and manager on budget matters. Such a group would be able to bring focus to these broader issues, in addition to recommending operating efficiencies. This would also bring "transparency" to city government, a concept that is widely touted but not always implemented. No Budget Advisory Committee has ever been formed.
We have advisory committees for city utilities, parks, arts, and etc. Why not for the budget? There are many residents with state budgeting experience who could help our city.
Bob Jacobs
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