The “S” word again.
The city’s proposed general fund budget shows a growing deficit of $2.4 million for the 2020-2021 fiscal year, $3.5 million for 2021-2022 and $5 million for 2022-2023.
“This is not sustainable and we need to get to a structurally balanced budget, where our income or revenues can adequately pay for our spending or expenditures,” Uslar wrote to the council.
Hotel tax is important because it provides 28% of the city’s total revenue, more than property tax and sales tax combined.