COVID-19 Economic Downturn Impacts Sonora’s Budget
Sonora, CA — For the budget year that ends on June 30, the City of Sonora is projecting a shortfall of $248,000.
It will be discussed at Monday’s City Council meeting. The city is anticipating an estimated $160,000 reduction in final sales tax revenues, a $90,000 drop in Transient Occupancy Tax and an $18,000 decline in misc. over revenues. The city notes that one fund that will provide more revenue than initially anticipated is the medical cannabis licensing program, which is projected to provide $20,000 above initial estimates.
To cover the remaining $248,000 shortfall, the city plans to move $225,000 from its Facilities-Capital Improvements fund and $23,000 that had been allocated for engineering services.
The city is still hoping that local governments will receive some state and federal relief related to COVID-19, but it is unclear what will happen at this time. The city is also in the process of developing its upcoming 2020-21 budget, with many revenue uncertainties.
Also on Monday the council will discuss a related letter arguing for additional funding, authored by the League of California Cities, and soon on its way to Governor Newsom.
In addition, the Council will review the latest on the Governor’s Stay at Home Order.
Monday’s meeting starts at 5pm and will be on the online platform Zoom. Details are below:
Zoom Meeting Link:
https://zoom.us/j/98504511551
Dial Option: 1-669-900-6833
Meeting ID: 985 0451 1551
Password: 871455
