City Braces for Sales Tax Hit

A review of the city’s financial status at the five-month mark tracks only slightly off of expectations, which had already been tweaked during the fiscal year in anticipation of additional pandemic-related shortfalls.
These projections, as is typical, could be considered with a grain of salt, of course. Even in a normal year, revenues are more erratic than linear, and revenues through November would not be expected to offset expenditures yet. The first round of property taxes — among the city’s highest and most consistent revenue sources — don’t start rolling in until after November and weren’t reflected in the city’s report.

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