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City of Cincinnati avoids borrowing to balance its budget this year

Chris Wetterich  |  September 16, 2020

By Chris Wetterich, includes “… The city’s budget passed in June called for $10.2 million in borrowing from a $50 million line of credit it secured near the beginning of the coronavirus pandemic. The city received an additional $7.7 million from the federal CARES Act, and it finished FY20 year with a $20.3 million carryover balance. It will use $2.5 million of the carryover to pay back the rest of the borrowing. …”

Read the full article on: Cincinnati Business Courier

 
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