City projects $266,000 in lost revenue due to COVID-19 state restrictions


CLINTON — City treasurer Clint Lichtenwalter apprised city council members Monday about revised revenue projections as a result of state COVID-19 restrictions.
“State income tax, we had originally budgeted about $760,000,” Lichtenwalter said.  “The revised forecast is about $703,000.”
The city had budgeting $160,000 revenue from the video gaming tax.  

“The new estimate is $120,000,” Lichtenwalter reported.
Sales tax revenue was forecast at $1,490,000.  The new estimate is $1,390,000.
“Interest income due to interest rates bottoming out, we originally projected $42,000; now we’re projecting $20,000,” Lichtenwalter said.
Motor fuel tax also was projected downward from $180,000 to a new projection of $144,000.
He said the total projected decrease in revenue below the original projection was about $266,000.
There was no change in the state use tax.
In other business during Monday’s conference call meeting, the board approved the city’s annual $15,000 contribution to the Emergency Management Agency (EMA) agreement with the county.