Quincy City Council Hears Bleak Financial Outlook
The financial road back from the COVID-19 pandemic could be a slow and painful one for the city of Quincy.
The Quincy City Council Monday night heard from City Comptroller Sheri Ray about the city’s budget and revenue projections.
Since the council okayed next year’s budget last month, city officials now expect sales tax and home rule tax revenues to decline by $3.8-million dollars, a nearly ten percent decrease from the revenue amount the budget was based on.
Ray told the council it could take the city from three to five years to recover from the COVID induced recession.
There will be a first reading of a supplemental budget ordinance when the council meets next week.