9.
City Council Work Session (Amended)
- Meeting Date:
- 09/29/2020
- From:
- Rick Tadder, Management Services Director
TITLE
Sales Tax and Revenue Update
STAFF RECOMMENDED ACTION:
Discussion only.
EXECUTIVE SUMMARY:
Staff will be providing a revenue update to City Council. The presentation will include how General Funds performed in the 4th quarter of Fiscal Year 2019-20, preliminary year-end General Fund revenues for FY 2019-20, comparison of July and August revenues in the General Fund, BBB revenue update, and potential impacts to all City funds.
INFORMATION:
Revenues for the City of Flagstaff are critical to providing the many services to our community. Since March 2020, revenues have been impacted by the COVID-19 pandemic and current recession. Staff has been reviewing revenues nearly every week over the last several months and is providing the Budget Team with regular updates. July and August's major revenues have been posted and reviewed with the Budget Team. This is a presentation to update and inform Council on our Sales Tax and Revenues through August 2020.