Mar 19
2020
COVID-19 expected to worsen Buffalo finances
The coronavirus, and the attendant slowdown of the local economy, could not arrive at a worse time for the City of Buffalo’s finances. The likely decline in county sales tax — Buffalo’s share of which is a critical portion of the city’s budget — could contribute to a deficit when the fiscal year ends June 30. Early spring is the worst period of the year for the City of Buffalo’s cash flow, as Investigative Post reported last year. The city comptroller’s office projected the city would run a positive cash flow balance of $3.5 million for February, and that number is[...]