Here are two charts to give some perspective as Seattle Mayor Mike McGinn releases his budget proposals for 2011 and 2012. In “the worst economy since the Great Depression,” the City of Seattle’s revenue collections have held up relatively well.

The first chart compares, for fiscal years 2000 to 2010, revenue growth experienced by Seattle’s General Subfund to that of the state’s General Fund. (Note: Data are for fiscal years. The city’s fiscal year begins on January 1 and ends December 31. The state’s fiscal year begins on July 1 and ends June 30.) From 2000 to 2008 revenue on both levels grew considerably. Seattle’s growth (47.5 percent) exceeded that of the state (41.5 percent) by a comfortable margin. Seattle revenues fell by about 1 0.4 percent in 2009 and are expected to increase by about 1 0.3 percent this year. For the state, revenues fell by 10 percent in 2009 and by a further 4 percent in 2010.

Altogether, the city’s revenues for 2010 are expected to be 47.5 47.3 percent greater than 2000. For the state the ten-year growth is 22.7 percent.

The second chart provides a second perspective on Seattle’s revenue growth. The upper curve on the chart is actual city general subfund revenue for 2000–2009 and forecast revenue for 2010–2012.

The lower curve is constructed so that its value for the year 2000 is city revenue for that year. For each subsequent year, the percentage grow in the curve is equal to the sum of the city’s population growth rate and the inflation rate measured by the Seattle consumer price index. Thus, along the lower curve real (i.e. inflation-adjusted) per capita city revenue remains constant at the 2000 level. Inflation adjusted per capita revenue is expected to be 8 percent higher in 2012 than it was in 2000, the peak year of the dot com bubble.

(Revised 9/29 to conform to revenue forecasts in the mayor’s proposal.)