Revenue loss now could affect city finances later

City holding steady on available capital to cover expenses

Gordon Woods
Posted 4/22/20

The city is looking closely at how lost revenue from businesses closed because of COVID-19 could affect future city finances.

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Revenue loss now could affect city finances later

City holding steady on available capital to cover expenses

Posted

CLINTON — The city is looking closely at how lost revenue from businesses closed because of COVID-19 could affect future city finances.

City treasurer Clint Lichtenwalter commented during the city’s annual budget hearing, held Monday via conference call.  He said there was concern over how the currently-dormant video gaming business could later play into potential budgetary issues.  Gaming is considered a nonessential industry.

He also said reduced revenue from sales tax because of the state’s social –distancing and other virus safety practices could eventually affect city funds.

* See the complete story in the Friday, Apr. 24 print and E-Editions of the Clinton Journal.