County Faces Significant COVID-19 Financial Impact -Brevard NC
Last updated 4/22/2020 at 3:45pm
COVID-19’s impact on Transylvania County government’s revenues will be significant but just how much is still unclear.
Last week during the Board of Commissioner’s meeting, county officials said the worst-case scenario – mainly driven by the loss of sales tax money – could see revenues decreased by $800,000 to $900,000 this fiscal year, which ends June 30, and as much as $2.5 million next fiscal year.
Typically at this time of year, counties are in the middle of budget preparation, but COVID-19’s impact has seen, County Manager Jaime Laughter said, revenues become a “moving...