Barnstable County Commissioners Mark Forest, Ronald Bergstrom and Sheila Lyons.
HYANNIS – Barnstable County finance experts say the region is in a strong place financially as the busy summer season looms and economists nationwide forecast an impending recession.
In a report to County Commissioners, Finance Director Carol Coppola said some revenues, like excise tax, are even on-track to exceed projections from last year.
However, she added that the county’s health department will likely come in under revenue projections from last year.
“I think we’ll come in about $800,000, rather than about a million. But all in all, I think that the general fund is in a healthy position,” Coppola told commissioners
Commissioner Ronald Bergstrom said the region’s real estate value should help bolster the local economy, even as a recession looms across the U.S.
“We never know what the economy is going to do. People are pessimistic right now, but the Cape has always been an exception when it comes to home prices and the popularity of our area. So I think we can weather. I think we’re in a position to weather any downturn with some smart budgeting and good luck.”
Many economists nationwide have said a recession could hit the U.S. economy as soon as this quarter following recent government reports showing a 1.1% annual growth rate last quarter.
About Grady Culhane
