Farmington council to review COVID-impacted budget

Farmington city council members will on Monday review a draft 2020-2021 budget that anticipates the impacts of the Coronavirus Disease 2019 (COVID-19) pandemic.

The electronic meeting, held on the Zoom platform, begins at 6 p.m. To learn how you can view the meeting and offer public comment, visit farmgov.com/Latest-News/Notice-of-Electronic-Meeting-April-27,-2020.aspx.

City manager David Murphy in an overview said that a new item sits at the top of the budget objectives list: addressing the impacts of the corona virus pandemic.

“As the impacts of the pandemic and its effects on the economy continue to unfold, Administration has both short term and long term budgetary concerns,” he wrote.

The primary short-term concern is loss of revenues from state taxes, building permits, fines and fees, Farmington Civic Theater ticket sales and investment income. In the long-term, Murphy said, a long economic downturn could result in a loss of property tax and other revenues, and increase spending on pension benefits, which rely on the stock market.

Murphy said the budget was developed as usual, with only a few COVID-19 adjustments, to make measuring the pandemic’s impacts easier.

“There may be advantages when applying for future grants to be able to show shortfalls compared to a normal budget as opposed to a reduced budget,” he said.

Each section of the budget includes an explanation of potential pandemic consequences. You can view the full document on the city’s website.

 

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