COVID-19 Squeezing City Revenues

Mt. Carmel officials continue to keep a watchful eye on how the pandemic is affecting city finances. Commissioner Eric Ikemire, who oversees the city’s finances, reported at Monday’s council meeting that sales tax receipts currently stand at 13.6% for the fiscal year that began May 1st. He said that is the biggest concern for not only the city but also for all other government entities moving forward. Video gaming revenue is another area impacted by the pandemic. Ikemire said the city receives 5% of all gaming revenue and since video gaming was shut down by the state in March, the receipts are just now beginning since the state resumed video gaming July 1st. Ikemire said the city did receive a $5,000 payment for gaming proceeds.