PV predicts 40% chop to General Fund revenues

By Melissa Rosequist | Paradise Valley Independent

As the Town of Paradise Valley approaches a final budget adoption, the municipality’s top finance official is estimating operating revenue to be down about 40%.

The total budget as presented is $64,145,371 — but about $20.5 million is contingency funding in the event revenue bounces back quicker than expected.

On May 14, Paradise Valley Town Council received a fresh update on the town’s draft budget, presented by Chief Financial Officer Douglas Allen.

The town adopts its fiscal budget annually prior to June 30. With the COVID-19 pandemic affecting all aspects of life this spring, the council has been paying close attention to its revenue streams — mostly generated through sales, bed and construction taxes — while it plans next year’s budget.

READ ON:

Share this!

Additional Articles

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

News Categories