City treasurer Clint Lichtenwalter said Monday Clinton was fortunate. The city did not experience the sales tax revenue plunge suffered by other communities because of pandemic restrictions.
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CLINTON — City treasurer Clint Lichtenwalter said Monday Clinton was fortunate. The city did not experience the sales tax revenue plunge suffered by other communities because of pandemic restrictions.
“We’re up in a very good position,” Lichtenwalter said. “I’m not hearing the same from a lot of other communities.”
He said many other area communities were hit hard by falling sales tax revenue resulting from business closures during COVID-19 restrictions.
“We’re in a unique position in that we’ve stayed strong.”
Lichtenwalter said this would be the seventh consecutive fiscal year the city would be able to add to its reserves in the general fund.
“If you’ll remember, several budget years we were projected to actually dip into reserves,” Lichtenwalter said. “We ended up in the positive at the end of the year.”
He said this also would be the ninth year in a row the city is projected to add to the reserves in its self-funded insurance fund.
“It’s absolutely amazing,” Lichtenwalter said. “Before that, we had a streak of very bad luck health-wise in the plan.”
• See the complete story in the Friday, April 23, print edition of the Clinton Journal or now in the Journal E-Edition for subscribers.
