City Of Winston-Salem Projects $13M Budget Gap
The City of Winston-Salem is facing a major budget gap due to the effects of the COVID-19 pandemic.
At a finance committee meeting Monday, Patrice Toney, the city’s budget and evaluation director, presented a preview of the outlook for the next fiscal year. It projected a $13.1 million shortfall in the city’s general fund budget due in part to a reduction in sales tax revenue.
Toney suggested a number of ways to close the gap, including eliminating 20 currently vacant positions and postponing raises.
“I think it's gonna be a challenging year and I hope we can keep everybody employed and not have a tax increase," said councilmember Robert Clark. "If we keep between those two parameters, I think we'll be doing a very good job. "
Winston-Salem is among many local governments contending with financial issues due to the pandemic. Last week, the city of Greensboro projected a $7 million deficit.