Finances; positive COVID-19 at PCC; apartment coming | City Briefs
Last updated 5/21/2020 at 8:26am
City remains optimistic about its finances
As reported in last week’s Beacon, the City is projecting COVID-19 will cause a 9.2% decline in operating revenue in its general fund.
At Tuesday’s council meeting, Assistant Finance Director Dave Turley said this decline amounts to a $4 million loss in revenue out of a revenue budget of $43.8 million. It’s a difficult task to make up for a loss in revenue of this magnitude in the remaining seven months of the budget year, he said, but the City is moving forward with a two-phased approach.
First, by suspending new hires and nonessential expe...