TAMRMS#: B06
title
COVID-19 Financial Scenarios
Presented by: Diane McMordie, Director, Finance & Assessment/CFO
label
RECOMMENDED MOTIONS
recommendation
1. That the report titled “COVID-19 Financial Scenarios” be received for information
2. That the portion of Council Motion AR-20-144 that reads “That Administration provide monthly financial updates as more revenue and expense data becomes available and modeling is refined to inform any further financial management decisions required of Council”, be rescinded and that the City revert back to regular quarterly financial reporting as required under Council Policy C-CAO-01 Section 5 (b)(iii).
body
PURPOSE OF REPORT
To provide Council with updated information related to the re-opening of civic facilities and programs including a review of utilization statistics and any significant risks to the most recent forecast presented to Council on August 17, 2020.
ALIGNMENT TO PRIORITIES IN COUNCIL’S STRATEGIC PLAN
N/A
ALIGNMENT TO LEVELS OF SERVICE DELIVERY
This report links to a vast variety of services and service levels traditionally provided by the City. Many services were completely suspended upon the declaration of the COVID-19 pandemic in March 2020. Since that time, the Province of Alberta under the guidance of the Medical Officer of Health, has approved the reopening of specific services under defined operating restrictions. It is unknown at this time whether current operating restrictions will remain in place, be expanded or be loosened in the future.
ALIGNMENT TO COUNCIL DIRECTION OR MANDATORY STATUTORY PROVISION
On April 20, 2020 Council approved the following motion:
(AR-20-144)
That the April 20, 2020 agenda report titled "COVID-19 Financial Scenarios" be received as information.
That Administration provide monthly financial updates as more revenue and expense data becomes available and modeling is refined to inform any further financial management decisions required of Council.
That C...
Click here for full text