Leon Valley presents mid‑year financial report: property and sales taxes roughly on pace; land sale boosts miscellaneous revenue

Carol Gehring, Leon Valley’s finance director, presented the monthly financial report ending March 31, 2025, noting the city is at or near the fiscal halfway point and that property-tax and sales-tax collections are tracking similarly to the prior year.

Key takeaways from the presentation: - Property tax collections are comparable year-over-year and historically settle near 99% of levy by year-end. - Sales tax receipts are roughly in balance with last fiscal year’s pace; accruals could lift the percentage toward budgeted expectations. - A one-time increase of approximately $2 million in miscellaneous revenue was explained as proceeds from a recent land sale previously discussed at council. - Water fund revenue sits around 43.2% of budget as of March; the finance director said seasonal increases are expected during summer usage months. - Water expenditures are higher this fiscal year largely because of purchases of water rights; some of those purchases have been funded partly with current revenue and partly with water‑impact-fee reserves. - Some capital projects (impound lot, sewer capital) are underway; until work is spent their expenditures trail budgeted amounts.

Council follow-up: Councilmembers asked clarification questions and thanked staff for detailed documentation; several council members said they had reviewed the data with the finance director prior to the meeting. Gehring said outstanding grant reimbursements for the Verde/Burke waterline project have not yet been received and will affect cash-flow timing.

Context: The report is the city’s routine budget-to-actual update and helps council track whether revenues and expenditures require mid-year budget adjustments or re-prioritization of capital projects. One-time revenues from land sales are not ongoing operating revenues and the city will need to consider that in forecasting recurring funds and future capital needs.