Like any other household facing a cut in income, the mayor has ordered that all the city’s various departments cut five percent from their budgets to meet the possibility of less money coming to the city from the state next year.
With the state facing a $1.5 billion budget deficit, it is likely all the cities and towns will receive less money to run their budgets.
Everett presently has a cash surplus.
It is the mayor’s ambition to cut away five percent of the city’s anticipated spending in the next six months and to place that money in an account for use if there is a deficit due to reduced state income coming back to the city next fiscal year.
This is sound fiscal judgment at a time when cash is king.
We applaud the mayor for showing muscle before a problem comes to pass.
It is much better to plan for the rainy day than to have it raining with no way of providing any cover.