Seattle facing $117 million revenue shortfall in 2023

SEATTLE (AP) — Seattle is facing a projected $117 million gap between revenues and expected expenditures in 2023, and the city’s budget chief says there’s no easy way to bridge the gap. The Seattle Times reports that in 2019, though the city was in its fifth consecutive year of significant revenue growth then-Budget Director Ben Noble began to caution against increasing spending, forecasting a $116 million shortfall in 2023, based on historical patterns. Seattle’s 2022 general fund budget is approximately $1.6 billion. To bridge the projected gap in 2023, the city either needs to make significant cuts, find new money to cover planned expenditures or a combination of the two.