Federal stimulus dollars prevented financial ‘disaster’ at Cleveland, finance chief says

Norge Nyheter Nyheter

Federal stimulus dollars prevented financial ‘disaster’ at Cleveland, finance chief says
Norge Siste Nytt,Norge Overskrifter
  • 📰 clevelanddotcom
  • ⏱ Reading Time:
  • 44 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 63%

“Without the CARES Act funds, which the city used to shore up the budget, there would have been some combination of furloughs, hiring freezes, wage cuts, potential layoffs (in 2020),” Abonamah said.

CLEVELAND, Ohio – The City of Cleveland would have faced financial chaos and potential layoffs, had it not received hundreds of millions of COVID-19 stimulus dollars from the federal government, a top official said Thursday.that a combination of federal programs aimed at alleviating the city’s financial troubles from COVID-19 prevented the city from having to cut wages and even potentially lay off employees.

“Without the CARES Act funds, which the city used to shore up the budget, there would have been some combination of furloughs, hiring freezes, wage cuts, potential layoffs ,” Abonamah said. “Without that ARPA money that was transferred into the general fund in 2021, we would have faced similar choices in 2021-2022, given the structural deficits we faced. And so having that money in the general fund really staved off disaster for the city and its workforce.

Local governments had the option to declare either $10 million of revenue loss regardless of government size, or to follow . While many small governments elected to declare $10 million in revenue loss, larger places such as Cleveland followed the formula, which allowed them to declare more money as “revenue recovery” -- a distinction that allows cities more flexibility when spending.

Vi har oppsummert denne nyheten slik at du kan lese den raskt. Er du interessert i nyhetene kan du lese hele teksten her. Les mer:

clevelanddotcom /  🏆 301. in US

Norge Siste Nytt, Norge Overskrifter

Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.

Firefighters battle blaze in Cleveland’s Collinwood neighborhoodFirefighters battle blaze in Cleveland’s Collinwood neighborhoodCleveland Firefighters are currently battling a house fire in Cleveland’s Collinwood neighborhood.
Les mer »

Cleveland receives $15 million in federal funding to transform the historic Huntington BuildingCleveland receives $15 million in federal funding to transform the historic Huntington BuildingThe Millennia Companies plans to turn the 100-year-old structure into 864 apartments aimed at moderate and low income residents, plus create a 61-room boutique hotel, a high-end restaurant, offices, storefronts and event space.
Les mer »

Lawsuit: San Antonio emergency plan leaves ‘residents with disabilities out in the cold’Lawsuit: San Antonio emergency plan leaves ‘residents with disabilities out in the cold’The federal lawsuit alleges that San Antonio’s emergency and disaster plans are...
Les mer »

Cleveland Museum of Art recognizes injustices to Native Americans with ‘land acknowledgment,’ programs, exhibitsCleveland Museum of Art recognizes injustices to Native Americans with ‘land acknowledgment,’ programs, exhibitsThe new land acknowledgment at the Cleveland Museum of Art recognizes the violent dispossession of Native Americans from land now occupied by the institution.
Les mer »

Cleveland approves $10 million to improve pipeline of minority contractors: Stimulus WatchCleveland approves $10 million to improve pipeline of minority contractors: Stimulus WatchThe City of Cleveland is likely to spend $10 million in American Rescue Plan Act dollars improving the workforce pipeline for construction, brownfield remediation, lead safety, green energy and more during its Monday night meeting.
Les mer »



Render Time: 2025-03-10 09:34:16