SYCAMORE – The state of DeKalb County income sources is not wanting as regarding as initially thought amid the COVID-19 pandemic, in keeping with county officers.
Pete Stefan, finance director for DeKalb County, mentioned throughout the county’s Wednesday night virtual finance committee meeting that the county is anticipating to be about $600,000 down throughout all main income sources from the final a number of months and a complete of $1.5 million for fiscal yr 2020. He mentioned the county is now taking a look at $52,000 much less in unincorporated gross sales tax income for the following finances yr, together with $135,000 much less in countywide gross sales tax.
“March, April and Could had been undoubtedly hits,” Stefan mentioned. “However since then, these numbers have stabilized.”
Stefan wrote in a Thursday e mail that, earlier than the financial system partially re-opened in June, the potential income loss projections he was taking a look at again in March had been a $2.3 million discount with a reasonable affect, a $3.3 million discount with a heightened affect and a $4.3 million affect with a extreme affect.
“Had these [March, April and May] traits continued, the county would have been heading down the heightened path of income discount for the yr,” Stefan wrote. “Had they elevated in depth, a worse case state of affairs nearer to the extreme path would have materialized. And had they slowed down their tempo of discount, a path nearer to the reasonable path would have been the outcome.”
Stefan additionally mentioned the county’s motor gas tax income is predicted to be about $200,000 much less for the following finances yr.
“That one’s anticipated to proceed, with quite a lot of distant working occurring,” Stefan mentioned.
Stefan mentioned the county has been awarded a complete of whole of $6.6 million in grant funds, but it surely’s not all for this yr. A few of these grants are multi-year grants, like a grant for contact tracing efforts for the well being division, he mentioned.
Stefan mentioned the excellent news is that the native use tax, which incorporates on-line gross sales, is the one income supply that has been pulling in additional than it usually does. He mentioned the county is taking a look at being $125,000 over that projected income revenue by the top of yr.
“The native use tax, the one vivid spot, the one optimistic quantity on this web page, that retains chugging alongside,” Stefan mentioned.
Particularly concerning the affect to the overall fund, Stefan mentioned he is anticipating that to be down about $187,000.
“So significantly better than what we had anticipated when this factor first began,” Stefan mentioned.
Committee members mentioned they want to proceed to be up to date on what is going on on with COVID-19 associated impacts to county income sources.
DeKalb County Board Vice-Chairman John Frieders, who can also be a part of the county’s finance committee, weighed in on the projections.
“So in the long term, we’re nonetheless heading in the right direction for what the expectation was,” he mentioned.