The City of Newport released its proposed FY2021 budget on Tuesday.
The $96.4 million spending plan, which can be found on the City’s website, represents a roughly 3.5 percent reduction from the current fiscal year with the City anticipating over $3.5 million in lost revenue as a result of the COVID-19 outbreak.
According to its most recent estimates, the City is projecting General Fund revenue for the upcoming fiscal year to total $96,424,097, with roughly $79.8 million coming from local property and motor vehicle taxes. By comparison, the current fiscal year’s adopted budget, which is due to expire on June 30th, totaled $99,981,982.
The following are among the most significant changes to the proposed FY2021 budget: