Nevada County fiscal policy unchanged by pandemic | TheUnion.com
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Nevada County fiscal policy unchanged by pandemic

John Orona
Staff Writer

The Nevada County Board of Supervisors on Tuesday approved a budget for the 2020-21 fiscal year that largely maintains fiscal policies enacted over the last several years and uses reserves to absorb near-term revenue losses from the COVID-19 shutdown.

The budget projects $251 million in revenue and $266 million in expenditures. It recognizes a $24 million loss in revenue that will be offset by nearly $15 million in expenditure reductions and about $10 million in reserve funding.

The revenue loss hits the General Fund discretionary budget the hardest, which is funded through sales, property, transient occupancy and other taxes. About 61% of General Fund discretionary spending goes toward public protection.

During the presentation county officials suggested property tax rate and collection — a large revenue driver for the county — could lag by about two years as an economic indicator, meaning it will be some time before the county knows the true effect on homeowners.

The budget states COVID-19 will also affect investment return on the state’s pension system down the road, which could exacerbate liability problems.

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County officials said they will know more about the economic impacts of COVID-19 and revise the budget after the first quarter of the next fiscal year, in September.

To contact Staff Writer John Orona, email jorona@theunion.com or call 530-477-4229.


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