“Extraordinary times call for extraordinary measures.” These are indeed extraordinary times with many businesses forced to close and millions of people out of work due the measures necessary to contain the Coronavirus pandemic. And municipalities like Newtown Township that depend upon business and job related taxes face financial difficulties if the shutdown continues and people do not get their jobs back.
It is unknown to what degree the COVID-19 shutdown will affect the Township's finances. Obviously, Earned Income Tax (EIT) will likely take a hit due to the temporary or permanent closure of businesses. Real Estate Transfer Tax will also likely be, or become, compromised as people brace for a potential financial impact.
In addition, charges for public safety (permits) may decline if building and construction drop off, and the township's Parks & Recreation programming revenue stream may be significantly less if the township has to cancel summer camps.
Given the fact that the Township heavily depends upon tax revenue from local businesses and the employees they hire, the closure of these businesses and the subsequent employee unemployment may have a big impact on the township’s financial health, delay major public improvement projects, and may even lead to a negative general fund cash balance.
To prevent that, as a Newtown Township Supervisor, I will continue to be called upon to make critical decisions in the coming weeks in response to this situation in order to maintain essential services.
Consequently, it is important that I get feedback from local businesses and employees that have been impacted by COVID-19 to help me determine the likely worst-case scenario and make informed decisions to prevent that.
To get that feedback, I am hosting two COVID-19 Impact Surveys – one for local business owners and one for local residents/employees.
If you are a business owner, please take my COVID-19 BUSINESS Survey: https://www.surveymonkey.com/r/D7CVTJ2
If you are/were employed by a Newtown Township business, please take my COVID-19 EMPLOYEE Survey: https://www.surveymonkey.com/r/D7CVTJ2
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