Budgeting & Debt Control
Listen to 5 Minutes w/ Justin Nickels: Budget & Debt (mp3)
Leading by Example:
Fiscal restraint must start from the top. Just like we have asked all other department heads to do for years, I will cut the Mayor’s budget by 10%, while maintaining staffing and services that citizens expect from the Mayor’s office.
When elected, I will return the scheduled pay increase for the Mayor back to the City Treasury, and I will return an additional $5,000 of my salary to the Treasury annually throughout the term. I will eliminate the office’s $3,600 auto allowance, and I will reduce the food and lodging budget by another $2,500.
These cuts alone equal a 6% reduction in the Mayor’s budget. Once in office, my staff and I will pinpoint additional areas where overhead can be reduced to complete the 10% reduction. This is the type example that the CEO of our City must lead by.
Controlling Debt:
The City cannot continue to burden taxpayers with increased debt. Over the past 9 years, the City’s debt has ballooned – almost tripling from $26.8 million to $75.7 million – and we continue to take out more debt in a year than we are paying off. This is the exact reason I have voted against the last two City budgets and cast other difficult votes against wanted – but unneeded – debt spending.
As Mayor, all of the budgets that I present to the Council will pay off more debt than they take on. Yet, needed road, sewer and building repairs will not be sacrificed. I will work to stop unneeded spending by building stronger relationships with union employees in order to reduce legal fees, as well as finding innovative solutions to maintaining their benefits while saving the taxpayers money at the same time. I will veto any debt spending passed by the Council that was opposed by the voters via referendum. I will support any reasonable public/private partnership to achieve wanted additions to our community. However, I will not spend taxpayer money if the private partner does not meet the terms of the agreement with the City.
Additionally, I will work to reduce the City’s Tax Incremental Financing (TIF) debt by pursuing new economic development incentives for businesses, such as Foreign Trade Zone status for our community.
Reducing Spending:
In order to reduce spending while maintaining services, I will work with department heads to pinpoint overhead that can be eliminated. I will also work closely with the unions to find innovative solutions that allow them to maintain their benefits while saving taxpayer dollars. I will work to reduce equipment costs for taxpayers by directing department heads to pursue any and all grants available for needed equipment, and will personally lobby the appropriate officials to help ensure that we receive those grants. Beyond that, I will direct all department heads to research the use of new, innovative technologies and revenue streams being utilized around the country that have the potential to save taxpayers money, and require them to report on the feasibility of implementation.