Title
Financial Update
Brief Description: Staff presentation of updated financial information to City Council, with a focus on the income tax revenue and other key revenue areas that have been impacted by the COVID-19 virus.
Body
Legislative History
None.
Purpose & Explanation
The purpose of the presentation and discussion is to give City Council up-to-date information relating to the impacts of COVID-19 on the City’s finances. See attached diagrams, showing 2020 Income Tax Revenue, Fund Impact, Gas Tax, and Ellsworth Meadows Golf Course.
Timing Considerations
Monthly update.
Fiscal Impact
Currently Budgeted (Account #, $)
Supplemental Appropriation Required (Account #, $)
X Appropriation Not Required.
Recommendation
Suggested Action
No formal action suggested at this time.
Submitted by,
Jane Howington, City Manager
Jeff Knoblauch, Assistant City Manager - Finance Director