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Bloomington finance director reports FY2025 year‑end: online sales‑tax changes lift receipts, reserves project higher than budgeted use
Summary
Finance Director Scott Rathburn reported June 23 that sales‑tax receipts showed a positive variance driven by state legislative changes to online retail taxation, partially offsetting other revenue shortfalls; projected general‑fund reserves are higher than earlier budgeted use.
Finance Director Scott Rathburn presented the city’s second of three year‑end financial reports on June 23, reporting several notable year‑end developments for fiscal 2025.
Rathburn said sales‑tax receipts showed a $442,000 positive variance year‑to‑date after three months of gains tied to state legislation that required some online retailers to collect Bloomington’s home‑rule component beginning Jan. 1. “The first month we had a 14% increase over the prior year for both Home Rule and State Sales Tax. The second month it went down to 9.5%. Third month, it’s gone up to…
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