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<br /> <br /> STAFF REPORT <br /> <br /> <br /> <br />TO: Mayor Keis and Members of the City Council <br /> <br />FROM: Brenda Malinowski, Finance Director <br /> <br />DATE: July 31, 2020 <br /> <br />RE: 2020 2nd Quarter Financial Report <br /> <br /> <br />INTRODUCTION: <br />Attached is the 2020 2nd Quarter Financial Report for the City of Little Canada. <br /> <br />Attachments: <br />• General Fund Quarterly Financial Report <br />• Special Revenue and Enterprise Funds Quarterly Financial Report <br />• Investments by Maturity and Type <br /> <br />As expected, the results of the COVID -19 Pandemic are affecting our General Fund operating results. <br />Revenues over(under) expenditures, before the budget amendment for building department efficiencies, is <br />at ($111,911) in 2020 compared to $93,447 in 2019 and ($103,746) in 2018. <br /> <br />General Fund Revenue <br />The 1st half of property tax collections were not received until July 3rd but were accrued back into the 2nd <br />Quarter to reflect more realistic budget to actual amounts. <br /> <br />The 2020 budget revenues are at the lowest percentage of budget collected when compared to the last five <br />years. <br /> <br /> <br /> <br /> <br />50.97%47.40%46.02%50.38% <br />43.53% <br />0.00% <br />10.00% <br />20.00% <br />30.00% <br />40.00% <br />50.00% <br />60.00% <br />70.00% <br />80.00% <br />90.00% <br />100.00% <br />2016 2017 2018 2019 2020 <br />% of Revenue to Budget <br />1