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[Jennifer Pae]

On March 26, 2007, the Mayor and all members of City Council signed Joint Resolution 8167-07 which calls for Council and the Mayor to work together to achieve a structural balance for the Fiscal Year 2008 General Fund Budget. This includes working toward General Fund revenues higher than expenditures during 2007, creating a structurally sound budget for 2008 and creating financial strength and flexibility for 2009 and beyond. The main areas of focus will include:

• Committing to a core services identification exercise

• Continuing to develop and act upon the fiscal strength strategies as presented by the Director of Finance and others that will be updated and reported on a monthly basis;

• Agreeing to work with and use the expertise of community leaders and volunteers, such as, but not limited to, the Grow Lakewood Structural Balance Task Force, to employ strategies to
(i) increase municipal revenues,
(ii) reduce operating costs of City government,
(iii) create and promote efficiencies within City departments and divisions, and
(iv) reallocate existing resources, if necessary, to build and maintain a reliable infrastructure, both physical and technological, and ensure a standard of excellence for essential City services.

If anyone would like to received the weekly Balanced Budget e-mail that reports on the progress of this important resolution, and is sent out weekly by the City of Lakewood Division of Finance, please contact me at: jennifer.pae@lakewoodoh.net