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Oro Valley finance staff report steady revenues; general fund trending slightly below budget
Summary
Deputy Finance Director presented the quarterly update through March 2025: general fund revenues are projected about 1% below budget (largely due to construction sales tax), overall uses down 3%, and projected ending general fund balance improved relative to budgeted drawdown.
Deputy Finance Director Gomez presented the town’s fiscal year-to-date quarterly financial update through March 2025. She said overall general fund revenues are trending about 1% below budget (roughly $525,000) driven mainly by lower construction sales tax, state shared revenues down about 10%, and licenses/permits down 16% (commercial building permits). Charges for services and interest earnings are performing well.
Gomez said operating uses in the general fund are down about 3% year over year; personnel costs are up about 2% and operations & maintenance about 6%. Year-end estimates anticipate personnel savings of roughly $1.3 million and O&M savings of about $400,000. The net effect is an expected reduction in budgeted use of fund balance from $4.1 million to $2.6 million, leaving an estimated general fund ending balance near $19.5 million.
Other highlights included a positive operating outlook for the community center fund (contracted operating revenues are running above budget, with golf rounds up nearly 10%); highway fund revenues stable; capital fund increase driven by a federal reimbursement for a previously incurred expenditure; and water utility revenues up about 4% (improved reclaimed water use and higher interest earnings). The stormwater fund shows capital projects rolling into next fiscal year.
Gomez noted estimates are preliminary and may change with year-end audit adjustments. She invited council questions; none sought major changes at the time.
