By Jennifer McRae

DENVER (CBS4)– The coronavirus pandemic is taking a toll on the Denver city budget. Denver Mayor Michael Hancock and the city’s financial team presented the grim financial forecast for next year.

The mayor said Denver hasn’t seen a drop in revenues like this since the middle of the Great Depression.

(credit: CBS)

Revenue from the lodging tax is down 66%. Overall the city is facing a $190 million budget shortfall for 2021.

To close the gap, Hancock proposed using $94 million from reserves, freezing new hires and requiring city employees to take 6 to 9 furlough days depending on their salary and position.

The city is trying to avoid cutting jobs.

“This city workforce makes up 70% of our general expenditure,” said Hancock.

City officials believe Denver’s economy will not return to pre-pandemic levels until 2022 at the earliest.

Jennifer McRae

Comments (4)
  1. “Revenue from the lodging tax is down 66%.” — tourists just don’t want to fund the National Western Complex/Colorado Convention Center expansion boondoggle.

  2. CaptainAmerica says:

    Leftist leadership have no one to blame but themselves…lies and tyranny indeed have a price.

    Next time, don’t kill the best economy in the world, simply to make a President look bad, because your own political ideas suck.

    1. Fascists, get out of the United States immediately and permanently!

    2. roberta says:

      No one had to ‘try’ to make that old fool look bad. He does it to himself every day.

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