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.
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.
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.