LOUISVILLE, Ky. (WDRB) -- There's so much fear, so much anxiety and so much uncertainty as the invisible enemy called COVID-19 spreads in Louisville.
"The biggest thing we have to do now is keep people healthy and safe," said Councilman Bill Hollander, who's staying at home as much as possible and practicing social distancing.
But the coronavirus isn't just a public health worry for city leaders like Hollander, D-9. The Metro Council's budget chair also worries what it could mean for the city's already struggling finances.
"There will be serious effects on our revenue," he said. "We know that during the Great Recession. we had double digit declines in net profits. I think it's reasonable to think that this will be more serious than that, but we'll see."
Last summer, the city slashed all city departments, including public safety, and closed libraries and swimming pools to pay a larger state pension bill. That bill will continue to balloon over the next few years.
Earlier this year, there was some optimism after a strong economy meant the city might run a $18.9 million surplus this fiscal year that could be used to soften the blow. But now, a stalled economy brought on by the coronavirus might erase any surplus.
Councilman Brent Ackerson, D-26, painted a doomsday picture at a meeting just days ago.
"The lack of occupational taxes and revenues that are flowing into the city because of the shutdown will nullify that possible surplus," Ackerson said. "When this next budget rolls around, we're going to have to cut to the bone."
Metro Councilman Bill Hollander (D-9)
Hollander says a cloud of uncertainty means it's hard to say what the impact will be yet. Mayor Greg Fischer agrees.
"There are a myriad of shifting factors...But we are monitoring it and talking with other cities and we will get through it together," Jean Porter, a spokesperson for Fischer, said Sunday.
She says federal aid and the duration of the pandemic could improve or worsen the city's situation.
Copyright 2020 WDRB Media. All Rights Reserved.
