City of Clinton officials are not ruling out the possibility of having to dip into reserves while the State of Illinois awaits the all-clear to get the economy going again.
Tim Followell says revenues have and are going to drop and with that in mind, he says it is not out of the question the City may have to dip into their reserves. He says the good news is, reserves are healthy and those should take them through the duration of the coronavirus outbreak.
According to Followell, being able to replenish funds in reserves is going to be very difficult so they are going to have be very meticulous in the money they pull from their reserves.
Followell explains the City is curtailing spending in certain areas and are trying to keep any unnecessary expenses to a minimum.