SACRAMENTO, Calif., Nov. 18, 2020 /PRNewswire/ -- Today theA California State Auditor published a new analysis that found nearly all California cities are facing some revenue losses related to COVID-19. Cities that rely heavily on tourism- and entertainment-driven taxes for revenue have been hit the hardest.
"Our analysis shows that, for some cities in California, COVID-19 is both a public health and financial health emergency," said California State Auditor Elaine M. Howle. "The revenue hit that these cities will take will worsen until the downward economic curve is reversed."These 11 California cities face significant COVID-19-related revenue decreases and have limited reserves to fill the budget gaps:
Anaheim
Avalon
Burlingame
Calistoga
Dana Point
Healdsburg
Mammoth Lakes
Monterey
Napa
Ojai
South Lake Tahoe
"Economic forecasts indicate that, as a result of the impact of COVID-19, these cities will lose general fund revenues exceeding 20 percent of their expenditures through the end of fiscal year 2020-21," said Howle. "Anaheim is at risk of exhausting its reserves, and the remaining cities may drain reserves below recommended levels."
