Dear Fellow Manassas Park Residents,
I hope that you all remain safe and healthy during these very difficult times. We have moved into the FY2021 budgeting season for the City, and I wanted to give you a status update.
The City, the NOVA region and the nation are essentially in a pandemic recession. Several economists believe this may rival the Great Depression of the 1930’s. As a result, all state and local governments have cut back on spending and on their FY2021 budgets.
Manassas Park is reducing every expenditure that is not essential to the operations of the City. Both I and the Governing Body are, and will remain, committed to good stewardship of tax dollars. We also are very proud of all parts of the City that have come together in the spirit of cooperation, in order to make certain Manassas Park remains strong and continues to serve the public to the best of the City’s ability.
The City faces potential revenue losses of $1 Million in FY2020; almost $800,000 in commercial revenue alone for FY2021, and no one knows if there will be lingering affects into FY22.
We look forward to any stimulus funding that may be available to local government, however it is not certain as to what form it will take or the restrictions that might be placed on that funding.
Times like this remind us that strong financial reserves are a necessity. Our reserves have improved since FY2016 and this is good news for the City’s ability to deal with the economic crisis. There is room for improvement in reserves, and they will need to be enlarged after we move out of this financial crisis; but right now, the reserves that the City does have will help the City weather this storm.
And, times like this remind us of the importance of commercial development. A strong commercial base is essential in order to provide the revenue to ease the burden on taxpayers by being less dependent upon Real Estate taxes. It will also help to build reserves and to fund the operations of all parts of the City, both short term and long term.
These current events will not last forever, and we will come through this and we will thrive. I personally feel blessed to live in a City, which has a strong sense of community.
Best Regards, Jeanette