Madison County estimates a $2.7 million revenue shortfall for the current fiscal year, as a result of COVID-19.
Chairman Kurt Prenzler said the projected shortfall in general fund monies is for the current fiscal year that ends on Nov. 30. In April, the administration urged department heads and elected officials to “tap the brakes” on spending.
“I want to thank everyone for making voluntary cuts in spending in response to the state’s decision to shut down businesses,” Prenzler said.
Prenzler said as a result, spending is projected to come in $2.5 million under budget.
General Fund revenue was budgeted at $50.7 million for FY 2020. The decrease in revenues are from sales tax, fees, fines, license and permits.
“At this time, we are working hard on next year’s budget,” Prenzler said. “In view of the COVID challenge we are trying to keep a reign on spending.”