WATCH: Mayor, City Council to hear briefing on San Antonio economy’s road to recovery

Meeting will be livestreamed in this article

SAN ANTONIO – San Antonio Mayor Ron Nirenberg and City Council will hear a briefing on the local economy’s road to recovery during a meeting on Thursday morning.

City officials are expected to present the fiscal year 2021 trial budget and a five-year financial forecast, based on the coronavirus pandemic’s impact on the general fund, hotel occupancy tax fund and airport fund.

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The meeting is slated to begin at 9 a.m. and it will be livestreamed in this article. If there is not a livestream available, check back at a later time.

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The trial budget for the fiscal year 2021 will include revenue and expenditure assumptions and possible reductions, according to the city.

City Council on June 4 voted on budget adjustments for the remainder of the fiscal year, based on revenues and expenditures from October 2019-April 2020. The mid-year budget adjustment included an $82 million reduction amount.

The local economy was devastated by closures that started in mid-March, triggering layoffs across the county.

As the national economy increasingly reopens, the Labor Department has marked the 11th straight weekly decline in applications for unemployment benefits.

About 1.5 million laid-off workers applied for U.S. unemployment benefits last week, according to the latest figures released Thursday. Nearly 21 million people are officially classified as unemployed, according to the Associated Press.

About the Author

Rebecca Salinas is an award-winning digital journalist who joined KSAT in 2019. She reports on a variety of topics for KSAT 12 News.

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