Finance staff presented the city’s monthly financial statement on June 12 and reported that real‑estate tax collections are nearly complete for the fiscal year. "We have a budget for the year of 19,150,000. And as of today, we've received just a little bit over 19,100,000. So we are at 99.8% of collections," finance staff said.

Other summary points given in the presentation included: contracting business license (BPOL) receipts were running above budget in part because of contracting work related to William & Mary projects; room tax receipts near $3 million and just under budget by about 0.8%; meals tax was up about 3.6% over budget year‑to‑date; the 1% sales tax showed a modest increase year‑to‑date; recordation taxes trailed last May’s receipts (the presenter reported roughly $253,700 this May vs $322,000 last May); and general‑fund expenditures were at about 88.4% of budget year‑to‑date. Finance staff also told council the utility fund’s revenues and expenditures were tracking in line with budget.

A councilmember asked about proposals at the state level to eliminate the personal‑property tax on vehicles and what that would mean for the city. Finance staff replied that the majority of the nonbusiness personal‑property tax base is vehicles and that elimination of that tax would be a “big impact” to the city’s revenue, but that she did not have details about any replacement revenue plan.

Council then approved Resolution 25‑11 to appropriate three incoming items: a state police training grant ($6,000), a state criminal alien assistance program grant ($7,192) (a pass‑through to the regional jail) and a donation from volunteer firefighters (amount reported in the packet and appropriated for cameras). The resolution passed unanimously.

Ending: Staff said they will continue to monitor revenues as the fiscal year closes and will bring any required year‑end adjustments to council.