09/14/2020

Columbus Faces $41 Million Revenue Loss This Year Due to the Pandemic

The staggering unemployment rate has drastically reduced its revenue

Today, Columbus Mayor Andrew Ginther and Columbus City Auditor Megan Kilgore announced the impacts of the COVID-19 pandemic have drastically reduced revenue expectations for 2020.

An ordinance will be presented to Columbus City Council Monday night that will reduce the city's general fund by $41.5 million.

“The global pandemic presented the city with three crises: a health crisis, a human services crisis and an economic crisis,” Ginther said. “Because our revenue is so closely tied to income tax, the staggering unemployment rate has drastically reduced our revenue for 2020. As we work on our budget for 2021, we need to anticipate this lost revenue that may well continue into the next year.”

Please select this link to read the complete article from ABC-6.