GREEN BAY, WI (WTAQ-WLUK) – Like many things, the pandemic is taking a hit on Green Bay’s finances. The finance committee discussed the 2020 projected budget for the general funds during Tuesday night’s meeting.
“Some of the largest revenues we’re going to be short on,” said Green Bay’s finance director, Diana Ellenbecker.
In total, the city is projecting to fall short $1.6 million in revenues.
Part of that is $240,000 of that is hotel tax revenue the city doesn’t expect to see during the Packers season. Citations are also short $255,000. Investment interest is down $250,000, and licensing fees have dropped $95,000.
There will also be $774,000 dollars lost by park programs, but that loss does have a bright side.
“We’re seeing reduction in park rentals and admissions but again that’s where you’re seeing savings on the expense side,” said Ellenbecker.
Those savings, add up to about $884,000. The city also saved $90,000 on travel expenses and training, and another $90,000 on materials and supplies.
All those savings adding up to a little more than $1 million.
“We still think revenues, plus savings and expenses we’ll still be short half a million dollars,” said Ellenbecker.
But money from the CARES act, and other revenue that was not budgeted will help. The finance team projects that total at $600,000. Meaning the city can finish the year with a $50,000 surplus for the general fund.
“At this point we’re very confident based on the projections we have at this moment we will be able overcome our shortfall and come in close to budget for the 2020 general fund,” said Ellenbecker.
However, that relies on $70,000 from the contingency fund, which will need the city council’s approval.
Alder Brian Johnson said, “the purpose of a contingency fund is to have something available if an emergency comes up and we don’t know what could potentially come up between now and the end of the year so I would dissuade us from relying on that until council makes a decision.”
The city of Green Bay’s contingency fund currently has $93,000.
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