Gadsden - The city of Gadsden faces a financial crunch that's similar to what's being felt by most cities across the state. As people spend less money there's not as much cash coming in to the city. But in Gadsden the money that comes in this summer will have a lasting impact on city finances. There are two reasons for that. First, if the city can catch up now it can start a new financial year with very little deficit this fall. The second reason has to do with economic opportunity. For Gadsden, there's a lot of money to be made in the summer.

Last weekend 60,000 music fans came out to Gadsden Riverfest.

Mike Shannon of the Etowah Co. Chamber of Commerce explains, "They stay in our hotels and they eat in our restaurants and it is good for our local economy, very good."

That's much needed money for the city - which is struggling to offset a national trend. People just aren't spending as much.

Mayor Sherman Gueyton says, "Overall we're down three percent."

That adds up to a million dollar shortfall in tax revenue.

According to Gueyon, "We sent out a notice for department heads to start working their budgets and be looking at cutting as much as ten percent wherever possible."

Office expenses, city travel and even benefits for city retirees have gone under the budget reduction microscope.

Gueyton says, "Right now we're just trying to circle the wagons and make sure we don't have to cut any services for the citizens or have to lay any body off."

Creative cuts add up like recruiting maintenance workers instead of contractors to do construction jobs like this wedding chapel at Noccalulla Falls - but what can really make a financial difference happens along the Coosa River in June and July.

Gueyton says, "We continue to have a lot of tourist dollars coming in here"

According to Shannon, "With the summer season being here we have fishermen coming in all the time, we have softball tournaments."

Tourism cash flow began at Riverfest. Now events like First Friday and a July Fourth event are the city's effort to keep tourists - and their money - in town until next year's budget kicks in this fall.

 

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