ROSWELL, Ga. — The pandemic’s impact on local government’s finances is making itself known. At the June 22 City Council meeting, Roswell staff presented end-of-year budget amendments for fiscal year 2020 that included several dips in funding because of the economic downturn.
“Due to the impact of COVID-19, our revenues are anticipated to come in less than what we had budgeted,” said Budget Manager Harpreet Hora.
Some of the most visible changes are in the general fund, which took a $2 million hit from reduced sales tax revenue during the pandemic. However, Roswell did find some cushioning from property tax revenues, which came in $1.8 million higher than anticipated.
The hotel/motel fund also came in shorter than anticipated, with a $550,00 reduction in tax revenue.
Roswell also found itself at a $300,000 loss from recent emergency repairs. In March, the city closed northbound lanes at Old Alabama Road near Riverside Road to fix a sinkhole that had developed in the area.
The lion’s share of the emergency repair funds, however, went to the Old Mill Machine Shop on Vickery Creek.
“There was some damage caused to the retaining wall behind the Old Mill Machine Shop,” Hora said. “This was due to the heavy rains, and city staff had to perform some emergency repairs.”
The estimated remaining fund balance over reserve by policy is $1.66 million, which includes funds set aside for financial uncertainties from the COVID-19 pandemic.
All told, the net impact of the budget amendments is approximately $109,000.
The Roswell City Council unanimously passed the fiscal year 2020 year-end budget amendments.
In other action at the meeting, the city signed an agreement with Fulton County for the Coronavirus Aid, Relief, and Economic Security Act Municipal Reimbursement Program. The maximum amount Roswell could receive through the program is just shy of $400,000.