In delivering his third state-of-the-city address, Highland Heights Mayor Chuck Brunello, Jr. spent much time detailing the work city staff has done over the past year. But, he also touched upon the financial challenges that lie ahead, especially regarding Progressive Insurance and its COVID-initiated work-from-home policy.
Highland Heights Mayor Chuck Brunello, Jr. delivered his annual state-of-the-city address Thursday in City Council chambers.HIGHLAND HEIGHTS, Ohio -- Mayor Chuck Brunello, Jr. delivered his third state-of-the-city address Thursday in city hall’s City Council chambers, an address in which the mayor recounted the accomplishments of city workers and council members over the past year, and also discussed the financial challenges that lie ahead.
Mayfield Mayor Brenda Bodnar said that the village, in the short term, won’t see a great impact from the Campus 1 closing, but that the loss of income tax revenue will continue to eat into Mayfield’s $42 million cash reserve.“The village suffered pretty drastic revenue losses in 2022, primarily because most Progressive Insurance employees continued to work from home in the aftermath of the pandemic. Our income tax collections totaled approximately $9 million, a decrease of $10.
“Employee withholding from employers in the city was 82 percent in 2020, and is now only 71 percent. We have seen an increase from resident collections go from 12 percent in 2020, to 14 percent currently. The resident collections still have not equaled out to the lost revenue from people not working in our city.”
Another financial challenge is the fact that a bond that brought the city $6.2 million for capital improvements expires a the end of this year. Brunello said he has kept $1 million in reserve for capital improvements for 2024. “While I remain optimistic that our state legislators understand how crucial this issue could be, if passed, we need to continue to be proactive as we prepare for the future,” Brunello told the audience.
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