Sherwood budget committee sees stronger-than-expected revenues; URA projects set to ramp up

Sherwood — The City of Sherwood Budget Committee and the Urban Renewal Agency (URA) met on Feb. 27, 2025, and reviewed midyear financial reports that show several revenue streams outperforming expectations while several large capital projects are about to ramp up.

City Manager Greg Shelton told committee members the December figures look solid and flagged that URA projects will begin spending in the coming months. “As we said last time when we had the budget meeting, the budget looks good as, we move through it,” Shelton said.

Finance staff member David reviewed fund-by-fund results, telling the committee that the general fund’s operating revenues were at about 63% of the adopted budget with property-tax collections at roughly 92% of budget as of the December snapshot. He warned that fines and forfeitures were behind plan at about 33% but said the shortfall appears manageable and can be adjusted without cutting personnel or core services.

The committee heard that transient lodging-tax receipts rose from about $26,000 at this point last year to roughly $98,000 this year, in part because a hotel payment from a prior year recently was collected. David…