- Sep 29, 2020
Breaking Down the Budget & COVID’s Impacts: City of Worcester and Worcester Public Schools for Fiscal Year 2021
EACH YEAR on July 1, Massachusetts cities and towns must implement a new budget. The City of Worcester’s Fiscal Year 2021 (FY21) budget takes effect on July 1, 2020. Municipal budgets must balance—expenditures cannot exceed revenues. The budget process forces municipalities to confront the challenge of fixed costs like debt service and pensions while deciding among priorities like education, public safety, economic development, and public services.