CITY COUNCIL AGENDA ITEM
ACTION REQUESTED:
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Receive the April 2021 Financial Report and First Quarter Budget Review
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DEPARTMENT: Finance Department
SUBMITTED BY: Rachel Mayer, Finance Director
BOARD/COMMISSION REVIEW:
N/A
BACKGROUND:
Developed in response to the unprecedented economic impacts resulting from the COVID-19 pandemic, the monthly financial report provides timely information and data related to the City's financial position and the local economy. This report is intended to assist the City Council in making strategic financial decisions when necessary. The report will be presented at the second meeting of each month.
DISCUSSION:
Recent Actions & Trends
Response to the pandemic continues to constantly evolve, and staff is monitoring national, state, and local changes that may impact the local economy.
Recent events include:
1. Vaccination Progress: The rollout of the COVID-19 vaccine continues to improve as more doses become available. The Illinois Department of Public Health (IDPH) reports full vaccination of 24.0% of DuPage County's population and 18.7% of Will County's population as of April 10. DuPage County continues to lead the Chicago metropolitan area in percent of population vaccinated. On April 7, the City partnered with Jewel-Osco and Mall of India to host a one-day vaccination clinic, delivering 2,700 vaccinations to Naperville residents. In Region 7 (Will) and Region 8 (DuPage), metrics used to track the prevalence and severity of the coronavirus have deteriorated in recent weeks. Case positivity rates and hospital admissions have risen; however, neither region has seen metrics that would require additional mitigation measures to be put in place.
2. Return to Learn: School districts 203 and 204 implemented full in-person learning after their respective spring breaks. From an economic standpoint, the move toward "normal" daily activities is a positive step. This change is likely to increase economic activity, such as increa...
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