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City's initial projections show $1.2 million loss due to pandemic

Initial minimum estimates are closer to $649K, but it's not all bad news. 

 
Series: Coronavirus | Story 57

Last updated 4/24/2020 at 9:28pm

Courtesy Christopher Kim

The City's finance director said he thinks the looming recession due to COVID-19 will be worse than the 2008 crisis, with losses of potentially $1.2 million.

The City of Mill Creek may face a $1.2 million loss in light of the pandemic due to COVID-19, but new Finance Director Jeff Balentine says the City is in good shape right now. 

Balentine showed his initial projections to City Council members April 14. The presentation slides can be found online.

Currently, the City can survive for 159 days "without a dime coming in," Balentine said. The City's savings can cover the police department, their contract for fire service, and City staff. The state auditor's office likes to see at least a 60-day reserve. 

Balentine based his initial projections...



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