HomeMy WebLinkAboutCouncil Presentation 10/06/2020- 9-1-20 JULY-AUGUST 2020 Council Monthly UpdateFiscal Year
2020-2021:
Monthly Update
Revenues
July -August
ITEMS FOR DISCUSSION
Economy -Local indicators
July - August revenue update
BUDGET BRIEFING
2
FY2021 INDICATORS
Real-Time Indicators & Trends
Marana Hotel Occupancy rate fell by 5.7% ( August Year over
Year)
Marana Hotel Revenues declined by 8.1% (August Year over Year)
Housing Permits still being issued but future is uncertain
185 issued in July & August 2020 vs. 145 in July & August of 2019
Urban Revenue Sharing –anticipate 8.7% reduction in FY2022.
BUDGET BRIEFING
Sources: STR Report, JLBC, Marana Development Services, ADOR
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April – August Revenues
General Fund Sales Taxes
BUDGET BRIEFING
-
500,000
1,000,000
1,500,000
2,000,000
2,500,000
3,000,000
3,500,000
April May June July August
Prior Year Actuals Budget Projection Actuals
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July-August General Fund Collections
Year On Year Comparison
BUDGET BRIEFING
*Some hotel sales tax payments were deferred for the months of April-June and were paid in July.
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
2019 Actual 2020 Budget 2020 Actual
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Revenues are better than anticipated
Still early to determine the future which will depend on
Federal relief funds
Virus solution (Vaccine or therapeutics)
Effectiveness of current measures
Stay the course while uncertainty remains
Continue to monitor revenues
BUDGET BRIEFING IN SUMMARY
6
DISCUSSION
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