When you have 5, 7, 8% growth every year, it's easy to think that you keep growing. But I think what we found is if you look at a lot of these years, There were 17, 18, 19 already those years were running deficits, but the result was you had big fund balances that had built up from the boom years to help you. You could live out of fund balance that's not there anymore. And so you have to retire, really tighten the budget to make sure you're just spending what you're bringing in. (37:48–37:58)
CLAIM
Asserts that Denver ran deficits in 2017, 2018, and 2019 but used fund balances from previous boom years.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
