Under Washington Law, the City Manager presents a balanced annual or biennial budget for the City’s upcoming fiscal period for consideration and adoption by the City Council.

Mercer Island’s biennial budget serves a number of essential functions.  The budget is more than a “checkbook” posting of proposed revenues and expenditures.  It is a financial plan that looks out over two-year (operating budget) and six-year (Capital Improvement Program) horizons, balancing planned income and expenses in a fiscally responsible manner.  It is a policy plan, guiding and assuring the City’s long-term financial health.  And, most importantly, it is a detailed description of the goods and services for which the City and its elected officials will be held accountable.  It documents the “social contract” between the citizens and their government.

The budget also serves in a broader policy context.  It draws upon many City Council decisions and discussions that precede it, and it will leave a legacy of policy influence for future budgets–helping to give the City’s finances long-term stability and continuity.