CITY COUNCIL AGENDA ITEM
ACTION REQUESTED:
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Receive the October 2020 Financial Report
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DEPARTMENT: Finance Department
SUBMITTED BY: Rachel Mayer, Finance Director
BOARD/COMMISSION REVIEW:
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BACKGROUND:
The City, region, and nation continue to experience the ongoing economic effects of the COVID-19 pandemic that began in mid-March. Staff continues to bring a financial report to the Council at its second meeting of each month to provide current data in order to make strategic financial decisions at the appropriate time.
DISCUSSION:
New Information
Ongoing developments continue to shape the pandemic's financial impact on the City. Since the September 15 Council meeting, the following new events have occurred:
* Will County mitigation measures lifted: A COVID-19 positivity rate exceeding 8% for three consecutive days triggered additional state-mandated mitigation measures for Region 7 on August 26. On September 18, the region's three-day rolling positivity rate dropped to 6.5% and the additional mitigation measures were lifted. Both the DuPage and Will County portions of the City are now operating under normal Phase 4 restrictions. As of October 8, both regions are maintaining a positivity rate of 5.6%.
* Return to Learn update: Naperville school districts 203 and 204 began the 2020-21 school year under a full-time e-learning model. Both districts have announced a transition to hybrid learning models in late October and early November. These models will include limited in-class instruction combined with e-learning.
* CARES Act update: The City submitted official requests for reimbursement to DuPage and Will counties on September 28. The City's initial request to Will County was amended following program changes made in response to updated U.S. Treasury guidance. The requests included reimbursable expenses for public safety payroll costs in line with U.S. Treasury guidance totaling $7,140,975. Preliminary response from both counties indicate the req...
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