As the summer seasons hitting full stride I hope all are safe and healthy enjoying the beautiful weather.
We are entering our 15th week of the COVID-19 health crisis, I wanted to give you all an update on the steps the Council and Executives have taken to re-balance the FY 2020 general fund budgets through September 30, 2020.
With a significant reduction in the gaming transfers and other general fund revenue impacts from April through September, we’ve met to review budget forecasts through September to ensure that supportive governmental services as well as other necessary expenditures to respond to the pandemic are funded.
As you may know, the Nation has also been aggressive in applying and receiving awards for available CARES Act, FEMA and other COVID 19 grant funding. This funding is playing a huge role in managing the budgets through September and for FY 2021. Cares Act funding part two has been received by the nation at $26,269,097.29 from the US treasury. I’m working with council, fiscal and legal to make sure we maximize these awards and project them into the next fiscal year as gaming operations slowly build themselves back to whatever this “new normal” is going to be. Much work has been done by directors and departments and we know that will continue until we’re a full functioning revenue generating nation again. Many cuts have already been made and plans are being evaluated in anticipation of reopening all the services our nation provides to the community.
In spite of the United States economy shutdown and 30 million plus people unemployed, stock markets have continued to rebound. There is optimism as the economy re-opens but many have expressed caution on the pace of this sharp recovery. To some it seems the market is “rushing” to these highs and they tend to fear the sustainability of these new benchmarks. As we are affected by the US economy we must remain focused on preserving what is needed for our Nation members.
While the gaming operations will begin initiating their operations on June 18th, their financial forecasts indicate that it will take several months for their cash flows to recover due to the social distancing recommendations and other health safeguards that are required to protect the patrons and employees. This is one of our main priorities.
I’d like to wish all the Dads a Happy Father’s Day and hope your day was special. Please be mindful we are still in a pandemic state, be cautious as you start to venture out into the public. Continue to follow everything established by the CDC in preventing the spread of disease.
Enjoy your summer and stay safe,
Free millings for Cattaraugus residents:
If you are a Cattaraugus resident and would like millings delivered to your property, please call the Treasurer’s Office at 716-532-4900. Residents will need to provide their name, address, and phone number.