Letter to the editor: Article omissions
To the editor:
Your recent article on the City of Lawrence general fund surplus omits a few important considerations.
The 2005 reduction in mill levy created deficit spending in subsequent years that weakened finances going into the last recession of 2008.
The U.S. economy is in its longest expansion period in history. Economic slowdown has a large impact on property and sales taxes that fund the City budget. Surplus becomes deficit quickly.
The City Commission should fund capital projects if surplus is to be spent. These projects are one-time commitments that don’t impact future budgets. We should avoid difficult budget cuts in future years when revenue growth does not keep pace with inflation.