Finances still look sluggish 3 years out, Nevada City staff says
If the economy doesn’t pick up, Nevada City’s general fund could still be about $170,000 in the red three years down the road.
That was the latest prediction from city staff for a general fund of more than $3.5 million, and it reflects anticipated slow growth in tax revenue and big jumps in the amount the city will have to pay to retirement accounts.
City finance director Catrina Andes presented the three-year outlook at the City Council meeting Wednesday night, noting the numbers would change as the broader economic situation comes into sharper focus in coming months.
“I’m pretty optimistic it will change,” said City Manager Gene Albaugh about the economic downturn that has plagued Nevada City’s revenues. If the projections are correct, though, “we would have to make serious cuts.”
“We saw this coming early on,” Albaugh added. “We’re not hurting as bad as some of our neighboring communities.”
In other news:
• Hirschman’s Pond, a former hydraulic mining site just northwest of downtown Nevada City, will be lightly developed to include a hiking trail, a few parking spaces and signage.
City Council members adopted the vision for the quiet, wooded space after a parks and recreation department committee brainstormed improvements for the property during public workshops.
• A new fire truck will be on its way in the next year after councilmembers approved the fire department’s plan to use money from its special account to supplement a $175,000 federal grant. The fire department can now go forward to buy a $330,000 fire engine to replace a similar one that is 27 years old.
To contact Staff Writer Michelle Rindels, e-mail email@example.com or call (530) 477-4247.
Support Local Journalism
Support Local Journalism
Readers around Grass Valley and Nevada County make The Union’s work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.
Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.
Your donation will help us continue to cover COVID-19 and our other vital local news.
Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.
User Legend: Moderator Trusted User