Anchorage faces fiscal woes

    Anchorage, Alaska (AP) - The municipal government of Alaska's largest city has projected a $17 million revenue shortfall for 2020 because of the economic impact of the coronavirus.

    The Anchorage Daily News reports that the loss represents 3% of the general government operating budget for Anchorage.

    Lost tax revenue accounts for $14.4 million of the shortfall.

    Anchorage Chief Financial Officer Alex Slivka said the city plans to reroute federal coronavirus recovery funds to fill most of the gap.

    An ordinance proposed by Mayor Ethan Berkowitz’s administration would repeal part of the federal recovery funding package that was approved by the Anchorage Assembly.


    More from News of the North

    Current Conditions

    Crude Oil Price