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LTAC hears finance update: collections on pace, reserves available and multi‑year plan for Rack synthetic field replacements
Summary
City staff reported hotel-motel tax collections through July at about $281,000 (≈52% of a $540,000 projection), interest income ahead of 2024, available reserves of about $267,000, and a plan to begin synthetic field replacements at the Rack in 2028.
Lacey finance staff told the Lodging Tax Advisory Committee on Sept. 4 that hotel-motel tax collections through July totaled about $281,000 against a projected $540,000 for 2025, roughly 52% of the annual projection.
Chelsea Yarwood, the city’s accounting manager, presented the update. "Hotel motel tax collections through July equaled just over 281,000 of the projected 540,000. This is equivalent to about 52%," she said.
Why it matters: The figure is consistent with typical seasonal pacing for lodging-tax receipts, staff said. Yarwood noted collections by the same point last year were 51%, and the city ultimately exceeded its 2024 lodging-tax budget.
Interest income and reserves: Yarwood reported interest income year-to-date (through July) of $56,007.54, outpacing the full-year 2024 interest total of $36,007.95. The city invests in a mix of…
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