“Restaurants are closed, hotels are closed, no one is buying a car right now, and that is going to have a massive impact on the Erie County budget,” said Erie County Comptroller Stefan Mychajliw. “Our largest source of revenue is sales tax revenue — not property tax — it’s sales tax revenue.” Right now, Erie County is in definite fiscal shape, said Mychajliw.
The county has $235 million cash-on-hand. That balance, under normal circumstances, would pay the county’s bills through the third quarter.
But, with restaurants and stores shut down, an analysis by the comptroller’s office found the county could be looking at significant losses come June.
Right now, the county has $102 million in its “unassigned fund balance.”
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by madison carter
march 27, 2020