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Budget Update <br />June 5, 2020 <br />Page 2 <br /> <br /> <br />General Fund Expenditures <br />At 21.55%, the overall expenditure amounts are on target for the year. Although some <br />adjustments have been made, the expenditure statement should be view as non-adjusted. There <br />are no departments that There are no departments that are of concern at this point in the year. <br />The City has experience some additional expenses do due Covid19, and the recent period of civil <br />unrest. These amounts are still being totaled and there will be reimbursement for at least a <br />portion of these costs. The additional costs do not appear to be a budget problem at this time. <br /> <br /> <br />Summary <br />In summary, the overall General Fund budget is looking good through the 1st quarter. However, <br />economic conditions worsened in April and May, and are pointing to the possibility of revenues <br />being under budget for the year. We will have a much better revenue estimate in six weeks when <br />we have received the 1st half tax settlement. These estimates will also have to be worked into the <br />2021 budget. <br /> <br /> <br /> <br />