City Holds Budget Work Session

The Sheridan City Council held a virtual budget session Tuesday night where the overall budget for the City was presented, as well as the budget for each department. Interim City Administrator Mike Jackson talked about how the COVID-19 pandemic has affected the City’s budgeting process.

Jackson said that all departments reduced their proposed budget expenditures by nine percent and will forego the majority of capital purchases. Jackson added that vacant positions will be scrutinized before filling and left vacant when possible, and that the City will use general fund cash reserves and direct distribution funds to augment revenue. He said that this will protect the City from the worst-case scenario of a 25 percent reduction in sales tax.

All external agencies that receive funding from the one-cent optional sales tax will experience a reduction in allocations anywhere from 15 to 25 percent.  The proposed budget will be finalized by the end of the month, then presented to the Council as a budget resolution for approval in June. The fiscal year for the City begins on July 1.