Findlay To Tap Into Rainy Day Fund As Revenue Drops

The City of Findlay is bracing for an estimated 20 percent drop in revenue from what they forecasted for 2020.

77 percent of the city’s revenue comes from income tax and with so much shut down due to the coronavirus a big chunk of that money won’t be coming in.

Mayor Christina Muryn says the city will be dipping into its rainy day fund so there’s no interruption to the services that residents deserve and expect.

“So we’re going to have to eat into that a little bit, but that’s exactly what it’s for, it’s storming”

The city has about $13 million in reserves.

Mayor Muryn says they’re required to keep a minimum balance of around $1.5 million in the fund and doesn’t anticipate coming close to that.

The mayor says, at this point, they feel that they’ll be able to get by without cutting any personnel but if things get more drastic that’s something that could be considered.

As for now she says the city is rolling with the punches as the pandemic continues.

“We’re making a lot of small changes to adapt and prepare, and the department heads are doing a great job of being really cautious. It’ll be tight but we’ll be alright.”