Without Denver’s robust general fund reserves, the coronavirus pandemic and subsequent economic slump would have wiped out a substantial portion of city services, Chief Financial Officer Brendan Hanlon said. That safety net has proved its worth time and time again, Hanlon said, and should the virus spike again late this year or in 2021, Denver will have an estimated $163 million as a fallback. But that cushion is well below what it had been in the spring and isn’t enough to cover the entire $190 million shortfall expected for Denver’s tax revenue next year.

Topics:  chief financial officer brendan hanlon   city   finance   julie   smith   mayor michael hancock    when i   denver   denver s   hanlon    the   great   recession   hancock   reserve   fund   million   year   budget   general   revenue   officials   pandemic   shortfall   coronavirus   marrow   bone   net   economy   economic   substantial   cuts   safety   budgets   quarter   emergencies   tax   relying   fallback   case   expected   multiple   worth   years   time   
BING NEWS:
  • City reserves $18.9 million for apartment subsidies
    The second day of the Sedona City Council’s budget work sessions on Thursday, April 18, revealed that city staff have reserved $18.9 million in public funds to subsidize new apartment buildings in ...
    05/3/2024 - 3:00 am | View Link
  • County creates reserve fund for disasters and hard times
    The La Paz County Board of Supervisors has approved creating a reserve fund as a permanent addition to the county’s budget. At the board’s April 15 meeting, Juliana Demers, the ...
    04/25/2024 - 5:36 am | View Link
  • More

 

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Politics News