The recent federal budget crisis/government shutdown and future uncertainity could have an impact on the finances of the city of Lynnwood.
During Monday’s City Council Work Session, Lynnwood Finance Director Lorenzo Hines noted that the crisis has shaken the confidence of the international community.
“I expect some sort of tremors, waves, to at some point, trickle down from D.C. and affect us at some point, most likely in the near future,” Hines said.
The government is funded through mid-January with the debt ceiling discussion pushed to mid-February.
Hines said he is concerned about December in terms of sales tax revenue.
“Folks looking at the beginning of December, we get to go through this whole thing again at the end of January,” Hines said. “In December, I’m going to be thinking about January 15. The dysfunction is just moved to a whole new level in D.C.”
Hines is from the area and still has relatives living there.
“The general feeling is, yes, it’s just going to get worse and won’t get any better until the next election,” Hines said.
Partly as a result, Hines is being conservative in his projections for sales tax revenue for December.