General Fund - July 2020 (See attachment)

Revenue Variances (+/- 10% of 58% target)

• Special assessments is a negative amount due to the payments to Republic Services for delinquent garbage assessments.  Similar to last year, this account will be negative until we receive our second half tax payments.
• Intergovernmental revenues exceed the budgeted target as a result of Federal Cares Act Relief Funding.
• Charges for services are below budget due to the Community Center/Ice Arena/SandVenture closures.
• Miscellaneous revenues are ahead as a result of investment income.

Expenditures Variances (+/- 10% of 58% target)

• In total, departmental expenditures are within the normal range and similar to last year's percentage through July.
• Finance expenditures are currently exceeding the targeted amount as a result of audit and assessing contract expenses occurring at the beginning of the year.
• Recreational expenditures are down as a result of COVID related programming reductions.

Community Center/Ice Arena/Sand Venture - July 2020 (See attachment)

SandVenture - Will not open in 2020.

Community Center/Ice Arena - Revenues are behind in terms of budget targets and comparison to the previous year, primarily related to operations being closed and impacted by COVID-19.

COVID-19 Financial Impact (see attached)

In July, the city received $3,127,073 of Coronavirus Relief Funds (CRF).  Included is a memo that provides the detail of the city's submission of eligible expenditures through July 31.  An additional revenue summary (not currently eligible for reimbursement) has been provided.