Malden Finance Committee Reviews FY2021 Budget With $4.1 Million Contingency Reserve

MALDEN — June 4, 2020 — Malden's Finance Committee reviewed its FY2021 annual appropriation order Thursday amid warnings of steep state revenue cuts tied to the COVID-19 pandemic. City Controller Joseph Rannigan told the committee the city has set aside $4.1 million in a budget contingency reserve to absorb anticipated cuts to state local aid estimated at 15 to 40 percent, calling it "our down payment on the cuts that we all know are coming." DPW Director Bob Knox said the department's overtime budget has been cut from $150,000 to $100,000 and that deeper reductions would directly reduce road repairs and street sweeping. Board of Health Director Chris Webb said his department received $55,000 in state pandemic funding with roughly $20,000 remaining, faces an estimated $60,000 in equipment replenishment costs, and warned that a $10,000 vaccine line item may be insufficient if a combined flu-COVID vaccine is required this fall. No final budget vote was taken; committee members indicated they expect to reconvene for supplemental budget discussions in September or October.