City general fund projected to end year in surplus
February 18, 2021
Thanks to the use of federal CARES Act funds to offset wages, and not as bleak a year as had been expected for sales tax revenue, the city general fund is projected to close out Fiscal Year 2021 in the black anywhere from about $100,000 to $800,000.
However, the next fiscal year starting July 1 is less certain, according to reports at a borough assembly workshop Feb. 9.
"This paints a really great picture for FY21, but I need to caution you for FY22," Borough Manager Lisa Von Bargen said in the workshop.
Looking ahead to Fiscal Year 2022, Von Bargen said assembly members need to remember th...