The City of Grass Valley has a budget for the upcoming year, but becasue of uncertainity, it is only a baseline budget until COVID impact data is in. The new fiscal year began yesterday and Tuesday evening, Grass Valley City Council approved the budget which reflects dramatic losses due to COVID-19. City Finance Director Andy Heath says the exact amount of impact will be better understood in a few months.
As a result Heath is submitting a baseline budget that can be revised once the numbers are in.
He says built in revenue impacts the General Fund by more than one million dollars including over 700,000 dollars less in sales tax and over 300,000 dollars less in transient occupancy tax. The city is projecting another forty thousand dollars in lost parks fees and building permits.
Measure E Sales tax revenue and gas tax revenue are also significantly impacted.
The finance director plans to bring an updated budget to the council for review in late September or October.