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Windcrest council accepts March 2025 unaudited financial report; sales tax receipts notably lower
Summary
Council accepted the city’s unaudited financial report for March 2025 and the second‑quarter investment report. Staff reported March sales tax down 27.62% from the prior year and a year‑to‑date decline of 21.84%, the lowest since fiscal year 2018‑19.
City staff presented and the council accepted the unaudited financial report for the month ending March 2025 and the second‑quarter investment report.
Finance staff reported that March sales tax receipts were 27.62% lower than the same month last year, producing a year‑to‑date sales‑tax decline of 21.84% — the lowest sales tax totals the city has seen since fiscal year 2018‑19. The city’s investment portfolio held about $13.6 million in invested funds, with second‑quarter interest of $117,831.37 and year‑to‑date investment earnings of $231,657.50. Staff recommended acceptance of both reports and the council approved them.
A council member asked whether investments were in taxable and tax‑exempt instruments; staff confirmed a mix of bank and taxable investments and said the yield difference was roughly one percentage point or less. The council accepted the financial and investment reports without additional conditions.
