Goldsboro Begins Carefully Budgeting For Next Year

Goldsboro Begins Carefully Budgeting For Next Year

Budget season begins in the City of Goldsboro.  Monday evening, Goldsboro Finance Director Catherine Gwynn filled the city council in on the initial preparations for Fiscal Year 2020-2021.

Gwynn says they are “trying to budget conservatively,” and noted the coronavirus crisis may end up impacting the city’s finances.   She says there is uncertainty in the State Shared Revenues, particularly the sales tax and utility franchise tax which accounts for about 37% of the general fund revenue.

Gwynn says they’re trying to “hold the line” on expenditures, and there will be cuts to items like travel, training, etc.  The city is also holding off on hiring right now, and may potentially freeze hiring for positions that become open, depending on the financial figures.

The Goldsboro City Council is planning to dive into the budget numbers further at its next meeting on June 1st.  The council plans hold its public hearing on the new budget on June 15th.