Introduction

Seattle is a progressive city. While we cherish our history, we have always been unafraid to innovate and experiment with new ideas. We will need that kind of innovation if we are to meet our current challenges. Seattle Mayor Ed Murray, citing record construction boom, says annual revenue is up 4.5 percent in the city, and outlined his plan to use it. Murray says the revenue forecast is now $13 million above the original forecast for 2016 and the general fund forecast is now $1.1 billion. He addressed the Seattle City Council and numerous city employees in his budget address Monday. Murray says sales tax from construction accounts for about a quarter of all new revenue, an all time high in Seattle.He outlined multiple proposals for using that money, which does involve building the Revenue Stabilization Account, better known as Rainy Day fund, to its highest level in recorded history.