OC Tax down
Virus could hit budget hard
By Greg Bird
With the nation in the grips of the COVID-19 virus, and many local businesses shut-down or limited to restricted traffic – the far-flung effects of the virus have yet to be seen for the County budget.
With a large portion of operating funds derived from the Occupational Tax, the next few months could prove to be critical for the budget in the closing months of the fiscal year.
According to data released by Judge Executive Jimmie Greene’s office, February saw a total of $173,186.07 collected from the tax, with $115,186.07 directed to the General Fund, about $9,000 below the same period last year.
Through the first two-thirds of the fiscal year a total of $788,071 has been collected for the General Fund, which is still $43,000 ahead of where the fund stood last year.
With an average monthly collection of about $98,500 the projection would be about $1.182 million added to the General Fund by the end of the year if the average holds steady.
But March, and possibly April and beyond, could show a significant decrease in collections due to the impact of the quarantines. More data will be available next month.