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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
QUESTION: Listen to the talking points and ask more questions
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Mesa Housing Services Governing Board - 4/9/2020
12 views15 hours ago
09 April 2020
IMPACT OF COVID-19 on City of Mesa's FY2019/2020 :: Trajectory For City Projects Scaled-Down >
CITY'S FINANCIAL STATUS & FORECAST /Proposed Deferrals
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
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| 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
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