Dublin is looking at roughly $750K-$1.5M less in revenue for fiscal year 2008-2009 than was initially expected due primarily to a drop in estimated sales tax, property tax, and development-related fee receipts. City Hall has already taken the following steps to address the projected general fund budget deficits:
- Saved Dublin’s taxpayers $110K for the 2008-2009 fiscal year by eliminating the vacant Community Development Administrative Aide position;
- Considering the possibility of raising developer and business “fees for service” to reflect inflation over the past few years;
- Evaluating the option to repurpose special funds for projects and purchases that cannot be deferred;and
- Created a sales tax reimbursement program to encourage businesses generating at least $100K of new net sales tax revenue to move to Dublin (or expand within Dublin).
Given the forecasted general budget shortfall, Dublin must take even more drastic action than the steps noted above by first and foremost focusing on its own responsibilities and objectives. In addition to eliminating the subsidies it provides to outside agencies like local non-profit organizations and the School District, the City must consider cutbacks in all areas. Select deferment of capital improvement projects and a reduction in the level of nonessential services must be considered. Furthermore, as is the case in the private sector, City Hall must look at strategic staff redeployment and payroll reduction opportunities as Dublin contends with this unprecedented financial challenge.
While these are difficult economic times for the City of Dublin, we can balance the budget and still maintain a high quality of life for residents by remaining fiscally disciplined and focusing on broadening our tax base.
