The process of formulating the Fishers 2021 city budget is running behind schedule this year due to uncertain revenue numbers. In particular, the Local Income Tax revenue numbers will not be available until Sept. 30, based on what City Controller Lisa Bradford told the Fishers City Council Monday night.
Mayor Scott Fadness told the council there will be two budget proposals before the council and the public during the September public hearing on next year’s city spending plan.
One budget will contain the numbers currently projected, and the second will be a worst-case scenario, requiring cuts to the 2021 budget to balance income and spending, if the income tax revenue is projected lower than current forecasts show.
According to the mayor, COVID-19 is throwing a big wrench into budget projections, and state officials say the amount of income tax money expected for Fishers next year will not be known until the end of September.
The city is required to enact the 2021 budget by Nov. 1. The September public hearing is also pursuant to state law.