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Thornton staff warn of possible $1.5M–$3.6M revenue shortfall; identify $1.7M one-time savings
Summary
City finance staff told the Thornton City Council they are tracking a potential 2025 revenue shortfall and outlined short-term and longer-term savings strategies, including about $1.7 million in one-time capital savings and a plan for further operational reviews if revenue weakness continues.
Thornton City staff told the City Council on a regular meeting that the city is facing revenue uncertainty for 2025 and presented two modeled scenarios that could produce a $1.5 million to $3.6 million shortfall.
The presentation said the shortfall stems from a mix of slowing development, reduced property tax assessments, and softer sales and use taxes. "We are proactively monitoring, and adjusting our forecast accordingly," a staff presenter said.
The city compared two scenarios based on year-to-date results through April. Staff said a modest negative trend would produce roughly a $1.5 million shortfall this year; a more conservative continuation…
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