Local Economic Impacts of COVID 19 (4-14-20)

Local Economic Impacts of COVID 19 (4-14-20)

Look at the economic impacts of covid 19 good evening, i'm alan van zandt.

There are still so many unknowns out there, elected officials are still trying to put together a budget for next year.

Kq2's madeline mcclain has the story of how bad the coronavirus could hit the bottom line.

Script:<<local governments have begun slashing budgets and pinching pennies.as official brace for impact of covid-19.ron hook, buchanan county commissioner: we are trying to figure out how to pay the bills.

Fortunately we have some money in our reserved fund and we can live off the reserve.right now, buchanan county officials say things are fine.last year's flooding -- taught everyone that rainy day funds aren't a luxury but a necessity.scott burnham, buchanan county commissioner: this year we put an extra $200,000 in our reserve fund and built up our rainy day fund if you will.the financial toll of the pandemic is still out of focus.but there's no doubt about it -- st.

Joseph and buchanan county will take a hit.

Bruce woody, st.

Joseph city manager: we will cut our travel expenses in half and that will add up to $210,000.city of st.

Joseph officials propose shaving about $11 million off of next year's budget -- anticipating less money from sales taxes and money from the casino.

Bruce woody, st.

Joseph city manager: i'm trying to provide you a few relief valves here and there since we don't know what to expect.the county expects to take the same hits.

Scott burnham: the gaming fund is down about 2 percent from this time last year.

However because of the 2019 flooding, it was already down by about 18 percent last year.the financial squeeze felt from households up to the state level.the governor announcing a $500-million dollar shortfall for the remainder of this budget year.scott burnham: "we have weekly conference phone calls with state and federal leaders and we listen to what's going on at the federal level.with time still left in this fiscal year officials attempt to outline a budget everyone can get back up and running to where they were before."scott burnham: when you get hit with a flood and then a virus like this, we are in uncharted waters."reporting in st.

Joseph, madeline mcclain kq2 news.>> city leaders also talked about a proposal to keep the public pools closed thorugh because of the coronavirus..

If that idea is adopted -- it will save the city