New York – Walsh’s Budget Estimates The COVID-19 Pandemic Will Cost The City $11.1 Million In Revenue

In front of roughly 100 people tuned in to a virtual Syracuse Common Council meeting, Mayor Ben Walsh released his $253 million dollar budget proposal for the upcoming fiscal year beginning July 1.

The budget anticipates the coronavirus pandemic will cost the city $11.1 million in revenue. Reductions in taxes and fees including a 6.6% sales tax revenue drop of $6.1 million.

The $11.1 million is projected for the 2020-21 fiscal year. The City is also anticipating $3-10 million in lost revenue in the current fiscal year due to COVID-19.

For the full story: CNY CENTRAL

cny central
tommy sladek
April 8, 2020