ST. LOUIS — A city panel voted Friday to use $5 million from the parking fund to buttress the city’s general reserves against a likely budget shortfall because of a coronavirus-spurred economic slowdown.
The Parking Commission voted 2-1 for the shift over the objections of a top aide to City Treasurer Tishaura Jones, who wanted to delay a decision until officials have a better understanding of the city’s financial situation.
Voting in favor were Alderman Jeffrey Boyd, who the money shift, and Streets Director Jamie Wilson, a member of Mayor Lyda Krewson’s administration. The dissenting vote was from Jared Boyd, Jones’ chief of staff, who was sitting in for her.
“We are one ºüÀêÊÓƵ, we are one city and we should all be working together,†said Alderman Boyd, who is not related to Jared Boyd.
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He said the $42 million or so in general city reserve funds is “going to be decimated†by shortfalls in tax revenues and that adding the parking reserve money would help.
Jared Boyd, Jones’ aide, said his office wasn’t necessarily against using some parking money to help the general city budget. But he said a decision Friday was “premature.â€
Among other things, he said, the city needs to know how much it will be getting in federal and state aid related to the coronavirus pandemic. He said projections of the economic downturn’s effect on city parking operations, which are run by the treasurer’s office, also have yet to be pinned down.
Jones has called another meeting of the commission for Monday. Jared Boyd said more details on the parking fund’s situation would be available then.
Jones, in a statement issued after the meeting, reiterated her accusation that the alderman’s proposal was aimed at scoring “political points†in his campaign for the Democratic nomination for treasurer against Jones in the Aug. 4 primary.
She added that the parking division has concerns about defaulting on its debt, “which is a reasonable scenario given the uncertainty of this pandemic.â€
City budget officials have projected a shortfall of $55 million to $63 million for general city operations for the fiscal year ending June 30. They have yet to release projections of how much the next fiscal year’s tax revenues will decline.
Jones and Alderman Boyd are longtime political antagonists and have been on opposite sides of a court fight over control of parking revenue.
A circuit judge in 2018 issued an order invalidating two state laws, an action that would result in reducing Jones’ authority over the fund.
The Missouri Supreme Court, to which Jones had appealed, sent the case back to the lower court earlier this year. The high court didn’t rule on the merits of the case but said it couldn’t consider the appeal at that point because the circuit judge had yet to decide on some issues.
Jeffrey Boyd called Friday’s Parking Commission meeting, citing an ordinance passed by the Board of Aldermen that allows any member of the commission to do so.
That ordinance, which also makes other changes, was passed on a contingency basis should the state laws be thrown out.
The city counselor’s office has said that ordinance now is in effect. Jones’ spokesman, Benjamin Singer, said in an email earlier this week that “the legal governance is still pending†because of the ongoing litigation.
Jones’ office on Friday did not say whether officials there believe that Friday’s meeting and action taken were legally valid.