SEATTLE - Mayor Mike McGinn is reorganizing the city's finance department and calling for an audit of Seattle City Light after finding the city's budget is in worse shape than previously thought.
Next year, Seattle's general fund faces a $50 million shortfall with other city budgets facing shortfalls, too. Seattle City Light has a $70 million deficit and the Seattle Department of Transportation is facing a $5 million shortfall.
The audit of Seattle City Light could result in rate hikes for customers. City Light has low revenues because of smaller snowpack and reduced ability to generate electricity. The mayor also wants to build a rate stabilization fund to prevent dramatic rate swings in the future.
To deal with the brutal budget, McGinn will likely make mid-year budget reductions. He'll consider higher taxes, fees and rates.
"Everything is on the table," says McGinn.
He's also reviewing staffing changes which could lead to layoffs of city workers. When he first took office, the mayor announced the firings of 200 city administrative employees but backed off on carrying those firings out.










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