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Receive The Branch Connection’s 2nd Quarter Report.
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BACKGROUND:
Staff will be present to deliver an overview of The Branch Connection’s quarterly report. A brief summary is included; however, the full report is attached for review.
The City's fiscal year (FY) runs from October through September. This report includes year-to-date (YTD) information for the October through March timeframe. Numbers have not been audited and are subject to adjustment. Due to the COVID-19 outbreak and subsequent stay-at-home order, The Branch Connection closed the doors beginning at noon Friday, March 13, 2020, and re-opened with a phased approach on Monday, March 15, 2021. During the re-opening of current activities resumed indoors with capacity limits set, the programs offered, a temporary guideline policy was in effect, and masks are required at all City facilities. We anticipate a slow, gradual increase for all categories included in our quarterly reports moving forward through the safe and planned re-opening process.
With the closure from COVID-19, the second quarter could not generate expected revenue income than years past while still obtaining expenses. Based on current results, quarter two has shown a $53,967 decrease in expenses with the facility closed for the majority of this quarter. With The Branch Connection's re-opening, there is a probability of the third quarter of FY 20/21 trending upwards with revenue, program participation, membership scans, and rentals. However, as we progress to fully operational status, with the senior demographic and health concerns, the increase we may see in the new fiscal year may be a slow, gradual process.