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Comments: <br />•As in the past, the 2nd half of the 2020 property taxes were received in December. Until <br />that time, it was unknown if the pandemic would affect the property tax collection rate. <br />Now that the 2020 property taxes have been received, actual 2020 collections <br />ended on a positive note at 98.89%. <br /> In addition to current year collections (1st Year Collections) there were delinquent <br />property tax collections which increased the amount collected as part of the budget to <br />103.11%. <br />•Due to the pandemic, revenues were below budget amounts in the categories of licenses <br />(including liquor licenses), and permits. A 12-week license credit was granted to on-sale <br />holders due to the closure of these businesses. This credit totaled $9,492. <br />•Charges for services revenue ended lower than anticipated due to decreased rental revenues <br />for the OFH and the park shelters. This was due to COVID-19 restrictions. <br />•Fine revenue is lower than anticipated due to decreased traffic stops as a result of the <br />pandemic, especially early in the pandemic. <br />•Federal CARES Act Funds are included in the 4th Quarter Report since the expenditure <br />requirements for these funds were met during the 4th quarter. A Single Audit is currently <br />occurring as part of the 2020 audit. The Single Audit was required since the City received <br />over $750,000 in federal funds in 2020. After the audit is complete, it will demonstrate <br />that the City met the Federal grant requirements. <br />General Fund Expenditures <br />Actual 2020 expenditures are at 96.69% of the budget. This is the lowest level in the past five years. <br />Expenditure reductions occurred throughout the year in all departments, to maintain flexibility in dealing <br />with the COVID-19 pandemic, and the uncertainty of the property tax collections. <br />97.05% <br />97.54%97.88% <br />97.54% <br />97.73% <br />98.52%98.85% <br />98.71% <br />99.47% <br />98.44%98.61% <br />98.77%98.89% <br />95.00% <br />96.00% <br />97.00% <br />98.00% <br />99.00% <br />100.00% <br />2009 2010 2011 2010 2012 2013 2014 2015 2016 2017 2018 2019 2020 <br />1st Year Collection Rate <br />2