Share to Facebook Share to Twitter Bookmark and Share
File #: 20-699    Version: 1
Type: Report Status: Agenda Ready
File created: 6/8/2020 In control: City Council
On agenda: 6/16/2020 Final action:
Title: Receive the June 2020 Financial Report
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
No records to display.
CITY COUNCIL AGENDA ITEM

ACTION REQUESTED:
title
Receive the June 2020 Financial Report
body

DEPARTMENT: Finance Department

SUBMITTED BY: Rachel Mayer, Finance Director

BOARD/COMMISSION REVIEW:
N/A

BACKGROUND:
The City, region, and nation continue to experience the ongoing effects of the COVID-19 pandemic that began in mid-March. Understanding this significant event will have a monetary impact, staff is continually monitoring the City's financial position. To provide Council with current data to make strategic financial decisions at the appropriate time, staff is bringing a monthly financial report before the Council at its second meeting of each month.

DISCUSSION
New Information
Ongoing developments and actions from various levels of government continue to shape the pandemic's financial impact to the City. Since the May 19 Council meeting, the following new events occurred:
* Phase 3 of Restore Illinois: Naperville, along with the rest of the state, moved into Phase 3 of Governor Pritzker's Restore Illinois plan. The phase loosens numerous previous restrictions, including allowing retail stores to re-open with safety plans in place, among others. In addition, restaurants and bars are now allowed to provide outdoor seating and service to patrons, which was not expected to occur until Phase 4. Through an executive order issued May 28, the City outlined a process through which establishments could open, create or expand outdoor seating, including use of public sidewalks and the public way.
* Civil Unrest: In late May and early June, many areas of the country, including Naperville, experienced incidents of civil unrest. This could have a financial impact to the City through additional expenses, such as overtime in police, fire, and public works. In addition, the proximity of incidents to Naperville's downtown and resulting suspension to outdoor dining for a period of time during the first week of June could impact tax revenues from these sources.
* First pos...

Click here for full text