The mayor and his spit and polish chief financial officer Eric Demas are way behind the curve at the present moment with the new budget hanging in the balance.
The bond rating so coveted by the city won’t be helping very much in overcoming the terrifying financial crisis it is facing right now.
In just a few weeks, the city will be forced to figure out a way to support itself financially given the cruel results of the Coronavirus on the local economy and how the city’s treasury will be effected.
The mayor and his financial chief and the city council and the school department with the school committee all need to be right now preparing for the financial cave-in, a shortfall of funding like no other ever experienced in modern times, and very likely to change the course of the local economy for many years to come. Continue reading The coming city budget