During an unprecedented pandemic, local governments are facing unplanned budgetary pressures. Revenue forecasts constantly change, services are being reviewed, employees are being furloughed, and localities are looking for ways to save money.
The COVID-19 crisis has disrupted tax revenue streams for many cities. That’s because tax revenue depends upon a flourishing and active local economy. But social distancing and lockdown regulations have dampened local economies, and many cities must now contend with anticipated budget shortfalls for their 2020-2021 budgets. These shortfalls threaten the ability of cities to provide valuable services and maintain engagement with their constituents.
In his long career, Avenu president Louis Schiavone Jr. has weathered many crises, including several global ones, and helped thousands of customers weather their own.
The June California Legislative Update covers the passage of the state budget and a number of bills related to the CARES Act. staff is currently monitoring 15 bills that seek to modify existing local taxes and impose new fees. This update provides the latest information on this legislation as well.
CLIENT UPDATE #1: Sales and Use Tax: Avenu has been hard at work developing economic assumptions on which to build revenue projections for each of our clients. For many of our clients, Sales and Use Tax is a primary revenue source and one that currently is in a state of flux. The pandemic has caused reduced economic activity, business closures, and uncertainty about the future. The recent Sales Tax Executive Order from Governor Newsom also impacted sales tax cash flows. This communication is intended to explain the lower than normal first quarter 2020 allocations to local governments resulting from the pandemic and the Governor’s Executive Order.
The coronavirus outbreak has disrupted the American workplace in both the public and private sectors. Now more than ever before, companies that invest in digital technology can enjoy a significant competitive advantage over their non-digital competitors. That’s because digital technology is key to ensuring business continuity and efficiency in an era of remote work, telecommuting, and social distancing.
In a May article published on GCN, director of information technology Roger Murphy explains how local government agencies can identify and address security vulnerabilities that could lead to attacks in a remote work environment.
Avenu Insights & Analytics (Avenu) and SAFEbuilt, a community development services company, have entered into a strategic alliance to provide local government customers a unique revenue enhancement assessment tool. This alliance seeks to help local governments rebuild and recover from this national pandemic.
During the ongoing COVID-19 pandemic, local governments are confronting budget shortfalls as revenue drops and leaders work to support their community during the crisis. Many jurisdictions are trying to finalize budgets for the upcoming fiscal year while assessing how the economic downturn is impacting current forecast. The volatility of the unexpected economic situation makes this a daunting task.
A recent decision by the California Public Utilities Commission (CPUC) approved the delay in the New Time-of-Use rate structure for Pacific Gas & Electric (PG&E) until March 2021. These new rates are based off changes to what are considered “peak” hours and were originally due to take effect November 1, 2020.
A recent decision by the California Public Utilities Commission (CPUC) approved the delay in the New Time-of-Use rate structure for Pacific Gas & Electric (PG&E) until March 2021. These new rates are based off changes to what are considered “peak” hours and were originally due to take effect November 1, 2020.