Date of release: June 25, 2020
Last night, the Paducah Board of Commissioners approved the Fiscal Year 2021 Budget. Paducah’s fiscal year begins July 1. It’s a balanced budget that was a tough one to put together due to the projected revenue decreases from the economic effects of the COVID-19 situation. However, thanks to years of good financial management and the use of some funds in reserve accounts, Paducah is able to continue with several capital projects, provide cost-of-living adjustments for employees, and maintain its high level of services. Take a look at the graphic to see how we did it!
We will review our assumptions and the revenue streams in January and February to see if we need to make any mid-year budget adjustments. #fiscalresponsibility