By CHRIS COLLINS
(Greenfield, MA) — The city of Greenfield is doing better financially than previously thought.
Greenfield Finance Director Liz Gilman told the Greenfield City Council Wednesday night that the most recent numbers indicate that the city is quite a bit more solvent than expected during the COVID 19 pandemic.
“At this point in the year, we need to take in $300,000 above levy to be on track. We are at $600,000,” Gilman said. “That means we may not have to make as many budget adjustments as previously thought.”
In addition, Gilman said meals tax revenue is up, despite reduced restaurant activity during the pandemic. Motor vehicle excise and building inspection revenue was also higher than expected. Gilman also said a number of city departments have turned back money from fiscal 2020, which will go toward a series of budget transfers to cover expenses that ordinarily might have been paid for by tax receipts.
“This will help us next year with our free cash, and we won’t have to borrow to cover any deficits,” Gilman said.
As far as state aid, Gilman says there are indications that Chapter 70 education aid will be level-funded, “but we aren’t really going to know for sure until the state budget is finalized,” which is expected to happen in September.