BAKERSFIELD,Calif. — The City Manager's Office and Finance Department provided a fiscal outlook in response to the impacts of COVID-19 on the local economy. It occurred during the May 6 City Council Meeting.
It was announced that it will likely be is necessary to defund and, or defer certain capital projects within the current fiscal year in order to meet revised revenue projections.
As part of the presentation, staff provided updated revenue projections for transient occupancy tax (hotel tax) for the remainder of the fiscal year, showing a revised projection of $7.5 million, as compared to the original fiscal year estimate of $9.9 million.