Remaining responsible through
The City made difficult decisions to remain fiscally responsible throughout the uncertainty of the COVID-19 pandemic. A major accomplishment over the past 12 months is that Standard and Poor’s reaffirmed City’s AAA bond ratings during the height of the onset of the pandemic in May 2020. Many cities around the nation saw bond ratings drop. The City of Amarillo’s diligent efforts to maintain strong reserves along with the implementation of drastic measures on spending in mid-March 2020 helped preserve the City’s longstanding history of high bond ratings. (including a hiring freeze and delayed capital expenditures).
Total City Budget:
As the nation sees many struggling economies,
the City of Amarillo’s economy faired better than originally anticipated.
Sales tax receipts remained strong with total receipts coming in higher over the past 12 months than the 12 months prior to that time period.
Total collections for fiscal year
more collections than 2018/2019
Hotel Occupancy Tax
Hotel occupancy tax collections felt the strongest impact from COVID-19, but are starting to improve over the last several weeks.
Total collections for 2019/2020
lower collections than 2018/2019