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Lexington finance commissioner reports on current and projected economy

 file photo -Lex City Council
Stu Johnson
file photo -Lex City Council

Lexington finance commissioner reports on current and projected economy

Citizens in communities across the country are wondering how their local economies will fare over the coming year. That’s likely the case in the Commonwealth’s second largest city.

Lexington city leaders got an in-writing report regarding government finances last week. Just over two months into the current fiscal year, it may be difficult to draw any major conclusions about the future.

But, national chatter about a possible recession persists. If it comes, Lexington Finance Commissioner Erin Hensley said, historically, the city has fared better than the national averages.

“But obviously we know we have residents and people that are impacted and hurting in our community and we’re still going to need to pay attention and see ways that we can help them,” said Hensley

Hensley said federal rescue dollars have allowed the city to do more in the way of safety net services including rental assistance. The finance commissioner said city administrators are well aware that inflation impacts some more than others.

Revenues coming into Lexington’s urban-county government are faring well. That’s according to Finance Commissioner Erin Hensley. Lexington Budget Committee members got a written update last week. Hensley said expenses are running slightly behind. She noted there are continuing supply chain issues with technology items, particularly with vehicles.

“So police cars is one of the areas that we’re seeing. We have been able to obtain the actual vehicle, but to get it fit up and put on the street, to make sure it has lights and all of the technology and equipment that it needs inside is a little bit delayed,” said Hensley

Hensley said this delay has not affected the number of officers using the cars in carrying out their duties.

Stu has been reporting for WEKU for more than 30 years.
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