General Fund - November 2020 (See attachment)

Revenue Variances (+/- 10% of 92% target)

• Property taxes will remain below the targeted amount until the city receives the 2nd half tax settlement.
• Special assessments is a negative amount due to payments to Republic Services for delinquent garage assessments.  The account will be negative until special assessments are collected.
• Licenses and permits are exceeding the budget amount as a result of building permit revenues.
• Charges for services are below budget due to the Community Center/Ice Area/SandVenture closures.
• Miscellaneous revenues are ahead as a result of investment income.

Expenditures Variances (+/- 10% of 92% target)

• In total, departmental expenditures are within the normal range and similar to last year's percentage through November.
• The City Clerk's department is currently exceeding the targeted budget amount, as a result of elections, but is anticipated to end the year within the amended budget.
• Recreational expenditures are down as a result of COVID-19 related programming reductions.
• All division's are expected to fall within the amended budget at year-end.  The city council adopted amended budgets at the November 17th council meeting.

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

SandVenture - Did not open in 2020.

Community Center - Revenues are significantly behind in terms of budget targets and comparison to the previous year, as a result of operations being closed and impacted by COVID-19.

Ice Arena - Revenues are behind in terms of budget targets, but exceed last year's revenues at this point in the year. 

COVID-19 Revenue Impact

An additional revenue summary has been provided.