Winamac plans for significant budget shortfall due to COVID-19
Winamac Town Council members are preparing for a significant budget shortfall that could impact not only this year but the next couple of years.
Clerk-treasurer Melanie Berger said, during a regular town council meeting on May 11, she has seen on the news that other municipalities are going to be significantly impacted by a tax revenue shortage. Some towns and cities are laying employees off because of it.
Berger said she spoke with Eric Walsh, of Baker Tilly, the financial consultant company that the town hires, in regards to her concerns.
“Eric told me to expect for the revenues to fall from 30-70% less than what was anticipated. That’s huge,” Berger said.
She said on top of that the property tax funding that the town would receive and supports July through December expenses will be less and she doesn’t anticipate it being received in a timely manner.
A motion was approved to hire Baker Tilly to prepare projected budgets.