Nassau projects $300M revenue loss due to COVID-19 pandemic
Nassau County Executive Laura Curran says she is asking all heads of departments in the county to come up with cost saving opportunities.
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Apr 21, 2020, 3:57 PM
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Updated 1,732 days ago
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Nassau County Executive Laura Curran says although the number of cases of COVID-19 cases continues to drop, the financial impact will have a lasting effect.
Curran says the county's budget is $3.5 billion, and they are projecting a revenue loss more than $300 million.
"We predict a 10% reduction in sales tax. Sales tax accounts for more than 40% of our revenues. So that 10% reduction will be painful, we will feel it," says Curran.
Curran also announced she's asking all heads of departments in the county to come up with cost saving opportunities.
Meanwhile, the number of total positive COVID-19 cases in the county stands at over 31,000 and 1,390 residents have died from the virus.
As of Monday, there were 1,999 hospitalizations – 44 less than the day before. A total of 458 patients are on ventilators – 12 less than the day before.
Curran said she has been talking to the hospitals, and as COVID-19 numbers are coming down they will be asking for ambulatory surgery procedures that are urgent to be permitted.
Curran says the county's budget is $3.5 billion, and they are projecting a revenue loss more than $300 million.
"We predict a 10% reduction in sales tax. Sales tax accounts for more than 40% of our revenues. So that 10% reduction will be painful, we will feel it," says Curran.
Curran also announced she's asking all heads of departments in the county to come up with cost saving opportunities.
Meanwhile, the number of total positive COVID-19 cases in the county stands at over 31,000 and 1,390 residents have died from the virus.
As of Monday, there were 1,999 hospitalizations – 44 less than the day before. A total of 458 patients are on ventilators – 12 less than the day before.
Curran said she has been talking to the hospitals, and as COVID-19 numbers are coming down they will be asking for ambulatory surgery procedures that are urgent to be permitted.
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