Edmonds Beacon - Your Hometown News Source

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...