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Finance director warns of multi‑year revenue shortfall, estimates $74 million lost growth since 2023
Summary
Finance Director Vicky Van Buren told the Reno City Council that slow consolidated‑tax growth and other trends have created a multi‑year revenue gap; staff used one‑time funds and spending reductions to balance current budgets and will return with audited numbers in December.
Finance Director Vicky Van Buren gave the Reno City Council a monthly update Aug. 27 that painted a cautious picture of the city’s general fund outlook, saying a prolonged slowdown in revenue growth has produced a compounding loss measured in the tens of millions of dollars.
Van Buren told councilmembers that four revenue sources — consolidated (sales) tax, property tax, franchise fees and business licenses/permits — provide most general‑fund growth. Consolidated tax (the city’s single largest discretionary revenue) has softened since 2022 and has not demonstrated the historic compounding growth the city relies on to fund services.
Using city models, Van Buren estimated that the cumulative loss of expected revenue growth from fiscal 2023 through fiscal 2027 is…
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