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Budget office walks council through revenue sources and forecasts for FY2025 and multi‑year outlook
Summary
Budget Administrator Nicole Reitler and her team presented the city’s revenue structure, forecasting methods and multi‑year financial forecasts, emphasizing reliance on ad valorem taxes and the use of conservative revenue assumptions that underpinned the city’s 2025 adopted budget.
Budget Administrator Nicole Reitler and the city’s budget team presented a detailed “budget development” workshop on revenues and expenditures for fiscal year 2025 and a four‑year forecast.
Reitler reviewed the city’s revenue methodology: ad valorem (property) taxes comprised roughly 62% of general fund revenue in the FY2025 adopted budget, with the city conservatively budgeting property tax collections at 96% and several state shared revenues at 95% of expected amounts. She described the method for estimating “new growth” in…
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