Title
2020 Year End Financial Results
Brief Description: The Finance Director will give an overview of the City’s 2020 financial results.
Body
Legislative History
Staff has been giving City Council monthly updates on key financial results since May 2020 as the City was starting to feel the financial impact of COVID-19.
Purpose & Explanation
The purpose of this presentation is to give an overview of how the City ended 2020 with an emphasis on the funds and revenue that were initially most impacted by COVID-19 (General Fund, Income Taxes, Golf Course, Gas Tax). We will also highlight the City’s ending fund balance as compared to the forecasted balances in the 2021-2025 Five Year Plan.
Staff also included follow up comments regarding questions on EMS ambulance fees and Broadband results that were raised at the January 12, 2021 Council Workshop meeting.
Timing Considerations
None
Fiscal Impact
Currently Budgeted (Account #, $)
Supplemental Appropriation Required (Account #, $)
X Appropriation Not Required.
Recommendation
Suggested Action
No action needed.
Submitted by,
Jane Howington, City Manager
Jeff Knoblauch, Asst City Manager/Finance Director