by: Scott McCaulley
With challenging times ahead due to potential economic impact of the COVID-19 Virus Outbreak, the City of Harrison has strong Sales Tax Numbers through the first two months of the year.
City Treasurer Jeff Pratt reported at last week’s Harrison City Council Meeting that numbers for both the City and Boone County Sales Taxes were ahead of last year, by over $45,000 for the City and over $80,000 for the County. That reflects the collections prior to the start of the COVID-19 Virus Outbreak which began affecting businesses in March.
Pratt said that the March numbers may also be up due to the increase of purchases stocking up for potential extended home stays but does expect a down turn in the numbers following that.
Pratt reported that if Sales Tax completely stopped coming in, the City would have enough reserves in the General Fund to operate over six and a half months while the Water and Sewer Fund would have enough money to operator for around four and a half months. Pratt says its unlikely Sales Tax will completely shut down but that the City does have reserves to help get through the potential reductions in Sales Tax Revenue.
Click here for link to last week’s Harrison City Council Meeting, conducted as a Facebook Live Event due to COVID-19 Safety Guidelines.