NOW THIS IS INTERESTING
Item 1-a
File #20-0447
Hear a presentation, discuss, and provide direction on the impact of COVID-19 on the City’s financial position, forecast, and budget modification recommendations, focusing on project deferral recommendations
_____________________________________________
________________________________________________________________
FINANCIAL UPDATE
COVID-19 FINANCIAL IMPACT
APRIL 9, 2020 (15 Slides Power-Point)
City of Mesa
Candace Cannistraro: Management & Budget Director
Brian Ritschel: Management & Budget Deputy Director
TIERED RESPONSE STRATEGY
■ Initial Response
– Identify available reserves, set-aside funds
– Pause on adding on-going expenditures or obligations
– Freeze Vacant positions and salary adjustments
– Pause unobligated capital projects/improvements
■ Short-Term Response (45-60 days)
– Departments with Closed Facilities
■ Parks, Recreation, and Community Facilities
■ Libraries
■ Arts and Culture
– Monthly reviews to assess health and economic conditions to possibly open the facilities earlier
■ Mid-term Response (60-90 days)
– Citywide review of all funds and operational expenses
slide 10:
Citywide Impact on General Governmental Revenues 10 Revenue Impacts (Major Revenues) FY 19/20 FY 20/21 Spring 2019 Forecast $ 289,988,000 $ 292,532,000 April 2020 Forecast $ 283,416,000 $ 287,180,000 Difference $ (6,572,000) $ (5,352,000) Lost PRCF Revenues Due to Closures (Apr-Sep) $ (1,800,000) $ (2,900,000) Total Impact to General Governmental Forecast $ (8,372,000) $ (8,252,000)
SLIDE 13
Impact on Mesa’s Economy: General Governmental Revenues
Revenue Impacts (Major Revenues) FY 19/20 FY 20/21
_______________________________________________________________
PROJECT DELAY LIST - 2 PAGES
Total Deferral FY 2020/21 7,655,000
Proposed Breakdowns
Facilities Maintenance - FY 2019/20
Subtotal for Deferral 2,982,000
Parks & Culture - FY 2019/20
Subtotal for Deferral 1,037,000
Public Safety - FY 2019/20
Total Deferral FY 2019/20 6,116,000
Communications/Technology - FY 2020/21
Subtotal for Deferral 1,202,000
Facilities Maintenance - FY 2020/21
Subtotal for Deferral 990,000
Parks & Culture - FY 2020/2021
Subtotal for Deferral 1,649,000
Public Safety - FY 2020/21
Subtotal for Deferral 3,814,000
Total Deferral FY 2020/21 7,655,000
Item 1-a
File #20-0447
Hear a presentation, discuss, and provide direction on the impact of COVID-19 on the City’s financial position, forecast, and budget modification recommendations, focusing on project deferral recommendations
_____________________________________________
File #: | 20-0447 |
Type: | Presentation | Status: | Agenda Ready |
In control: | City Council Study Session |
On agenda: | 4/9/2020 |
Title: | Hear a presentation, discuss, and provide direction on the impact of COVID-19 on the City’s financial position, forecast, and budget modification recommendations, focusing on project deferral recommendations. |
Attachments: | 1. Presentation - Financial Status, 2. Presentation - Project Deferral Recommendations, 3. Listed Project Delay Recommendations |
FINANCIAL UPDATE
COVID-19 FINANCIAL IMPACT
APRIL 9, 2020 (15 Slides Power-Point)
City of Mesa
Candace Cannistraro: Management & Budget Director
Brian Ritschel: Management & Budget Deputy Director
TIERED RESPONSE STRATEGY
■ Initial Response
– Identify available reserves, set-aside funds
– Pause on adding on-going expenditures or obligations
– Freeze Vacant positions and salary adjustments
– Pause unobligated capital projects/improvements
■ Short-Term Response (45-60 days)
– Departments with Closed Facilities
■ Parks, Recreation, and Community Facilities
■ Libraries
■ Arts and Culture
– Monthly reviews to assess health and economic conditions to possibly open the facilities earlier
■ Mid-term Response (60-90 days)
– Citywide review of all funds and operational expenses
slide 10:
Citywide Impact on General Governmental Revenues 10 Revenue Impacts (Major Revenues) FY 19/20 FY 20/21 Spring 2019 Forecast $ 289,988,000 $ 292,532,000 April 2020 Forecast $ 283,416,000 $ 287,180,000 Difference $ (6,572,000) $ (5,352,000) Lost PRCF Revenues Due to Closures (Apr-Sep) $ (1,800,000) $ (2,900,000) Total Impact to General Governmental Forecast $ (8,372,000) $ (8,252,000)
SLIDE 13
Impact on Mesa’s Economy: General Governmental Revenues
Revenue Impacts (Major Revenues) FY 19/20 FY 20/21
- February 2020 Forecast (not presented to Council) $ 300,570,000 $ 310,093,000
- Spring 2019 Forecast $ 289,988,000 $ 292,532,000
_______________________________________________________________
PROJECT DELAY LIST - 2 PAGES
Total Deferral FY 2020/21 7,655,000
Proposed Breakdowns
City of Mesa
Office of Management and Budget
Capital Improvement & Lifecycle Programs
COVID19 Project Delay Recommendations
________________________________________________________________
Communications/Technology - FY 2019/20
Subtotal for Deferral 1,530,000Facilities Maintenance - FY 2019/20
Subtotal for Deferral 2,982,000
Parks & Culture - FY 2019/20
Subtotal for Deferral 1,037,000
Public Safety - FY 2019/20
Total Deferral FY 2019/20 6,116,000
Communications/Technology - FY 2020/21
Subtotal for Deferral 1,202,000
Facilities Maintenance - FY 2020/21
Subtotal for Deferral 990,000
Parks & Culture - FY 2020/2021
Subtotal for Deferral 1,649,000
Public Safety - FY 2020/21
Subtotal for Deferral 3,814,000
Total Deferral FY 2020/21 7,655,000