The mayor of Port Hawkesbury says COVID-19 causes all kinds of issues to budget planning, but they’re working so the budget is passed on time.
Brenda Chisholm-Beaton says they’re concerned about a loss of revenue from services and taxes.
After May’s regular municipal council meeting held virtually Tuesday night, Chisholm-Beaton said they may have to consider their provincial counterparts’ recently announced municipal loan program.
“We certainly had some significant discussions at this point focused on the loss in revenues that we’re experiencing right now,” she said. “We have to look at what we want to accomplish for this year, how we’re going to pay for that, and what is that long-term ramification of rolling out our budget.”
Chisholm-Beaton said the 36-month, 1.1 per cent interest loan might be a solution, but they aren’t ready to use it yet; they need to better understand the town’s financial situation before any decision.
She said the possibility of business failures would affect tax revenue.
“I think it would have a significant impact on all municipal budgets right across the board in the entire province of Nova Scotia,” she said. “It is a reality we’ll have to keep a very close eye on.”
Chisholm-Beaton said they’re aiming to have the budget done by the end of June.
