Contracts are now awarded to multiple suppliers who can provide hundreds of products and services to meet recurring needs of local government, such as basic office supplies. By using streamlined procedures, we have cut the lead time for procuring many products and services.

Furthermore, the enhanced program supports the City's utilization of small and emerging businesses, particularly those firms that are located in one of Richmond's three enterprise zones.  
 
However, in addition to some of the larger reforms, we also tackled the little things.
 
Before 2005, Richmond used six different Human Resources forms for processing routine City business such as new hires, salary changes, or promotions. Today, that has been simplified to one universal form.
 
We created the "Leave without Pay Policy" that saved thousands of dollars by altering payments to City employees who were paid if they contested disciplinary action or were terminated for wrongdoing. Today, payments are suspended pending the final outcome of such situations. 
 
The Finance Department increased its tax collection rate from 94.9% in 2005 to 97% in 2008. We also increased our Delinquent Real Estate Tax Collections through outsourcing to an outside attorney for collection.
 
The Finance Department also successfully implemented the elimination of vehicle decals that had been studied without action since 2002, and we were the first locality in our region to do so. 
 
These are just some of the accomplishments I am proud to have helped implement for the City.
 
Now, about the future. Although Richmond will likely fare better than most of its peer municipalities, it will not be fully inoculated from the effects of the severe downturn in the economy. Although still a moving target, we are seeing revenue in every category trending down. State cuts have been announced and more will likely follow. The national economic crisis, which has not yet bottomed out, will continue to further exacerbate the situation well into late 2009 and perhaps the first half of 2010. 
 
The City has reduced its real estate tax rate by 15 cents during the past four years. This will prove to be a double-edged sword. Although it is a welcome relief for property owners, it has removed approximately $30 million of annual recurring revenue off the table that is needed for many long-ignored improvements such as schools, stormwater management and other aging infrastructure needs such as a new jail, not to mention economic development.
 
Whereas the City enjoyed double-digit surpluses in the past, in the coming years it will be fortunate if it is able to realize positive year-end balances of more than $1 million. This, coupled with the critical condition of the national economy and declining revenues, means that the next Mayoral Administration will have to spend a great deal of its time being inventive and disciplined with respect to financial matters.
 
City Government will have to shrink, as a means of freeing up revenue to support many needed investments. To do this, it may be necessary to reduce General Fund spending by at least 5 to 6 percent over the next two to three years and require a zero-based budget approach. That means the Administration and Council will have to engage in a top-to-bottom prioritization process which will be easier said than done, but this will likely be necessary in order to provide City programs and services in the future.
 
I feel confident that the City's financial infrastructure is in far better shape than it was four years ago and that will be highly important as the City rides out the current financial storm. I am proud to have helped enable this reform and set Richmond on a course for greater things. Thank you, Mayor Wilder, for the opportunity and experience.
 
Thank you, Richmond, for the opportunity to serve!!