Jeffersonville Mayor Mike Moore has submitted a balanced budget that essentially freezes spending for next year.
“We are facing some challenging economic times with COVID-19. And the city is feeling the impact on its revenue,” said Moore. “Fortunately, the city is in strong financial shape that’s helping us weather the storm.”
The $54.6 million proposed budget for 2021 is based upon projected revenues of $54.9 million. While the proposal uses some cash reserves to help fund operations, Jeffersonville will avoid widespread cuts to city services, layoffs or tax increases that have plagued other communities due to economic fall-out of the virus. The city is projected to end 2021 with nearly $7.4 million in cash.
“That’s why we have those reserves so we can get through these unforeseeable events,” said Moore who earlier this year made several budget saving measures such as cancelling summer concerts, closing the aquatic center and cancelling non-essential public works projects. “Our top priority has always been to ensure that we provide the essential city services everyone deserves and expects. I’m pleased that we’re able to do that under this budget proposal without any major cuts or tax hikes.”
The budget proposal would forgo any pay raises for city employees. Moore is optimistic that the drop in revenue is temporary in hopes that the city’s fiscal situation quickly improves post-COVID-19.
Moore commended City Controller Heather Metcalf and the City Council for being good financial stewards of the city’s finances. “Over the past several years, we’ve worked hard as a team to be practical and wise with our spending. That fiscal restraint is paying-off for us now when we need it the most.”