HomeMy WebLinkAboutCouncil Presentation 11/17/2020-JULY-OCTOBER 2020 Council Monthly UpdateFiscal Year
2020-2021:
Monthly Update
Revenues
July -October
ITEMS FOR DISCUSSION
Economy -Local indicators
July - October revenue update
BUDGET BRIEFING
2
FY2021 INDICATORS
Real-Time Indicators & Trends
Marana Hotel Occupancy rate fell by 8.7% ( September Year over
Year)
Marana Hotel Revenues declined by 22.8% (September Year over
Year)
Housing Permits still being issued at good rate
340 issued July-October 2020 vs. 289 July-October 2019
BUDGET BRIEFING
Sources: STR Report, Marana Development Services
3
July – October 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
July August September October
Prior Year Actuals Budget Projection Actuals
4
July-October General Fund
Collections-Year On Year Comparison
BUDGET BRIEFING
*Hotel sales taxes were adjusted for amounts that related to April-June collections but paid in July.
$0
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
$7,000,000
2019 Actual 2020 Budget 2020 Actual
5
Revenues are better than anticipated
Uncertainty remains
The future will depend on
Federal relief funds
Virus solution (Vaccine or therapeutics)
Effectiveness of current measures
Impact of second wave of COVID-19
Continue to monitor revenues
BUDGET BRIEFING IN SUMMARY
6
DISCUSSION