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Finance director presents Q3 financials through April; commission receives and files report
Summary
Finance Director Stephanie Meyer presented citywide revenue and spending through April 2025, including departmental breakdowns, capital-program totals and concerns about seasonal taxes. The commission voted to receive and file the quarterly financial report.
Finance Director Stephanie Meyer presented the Budget & Finance Commission with the city’s fiscal-year-to-date financial report through April 2025, including revenue receipts, department-level spending and an overview of capital projects.
Meyer said the city had received about 60% of its general-fund budgeted revenue through April (the presentation showed roughly 54.7% when transfers were excluded) and that major fluctuations were driven by timing of property-tax receipts and weaker-than-expected transient-occupancy-tax (TOT) results. She noted lease revenues and investment proceeds were expected to come in close to budget and that the city had recommended maintaining a projected midyear fund balance rather than spending it. The presentation also flagged that certain revenues — planning and building fees and charges for services — were near or above projections while TOT and utility-user tax (UUT) trended lower than expected.
Meyer added a new element to the packet: high-level capital spending and a list of 46 capital projects totaling about $77.4 million (spending year-to-date reported separately). Commissioners asked for additional detail formats the commission had previously requested, including historical seasonal patterns for asymmetric revenues (TOT and sales tax), a breakout of tax by type (property tax, sales tax, TOT), and clearer separation of money-market vs. CAMP holdings when staff report investment yields.
Commissioners discussed departmental spending patterns, vacancy-driven personnel savings and distinctions between general-fund and enterprise-fund expenditures. Meyer said some large one-time payments were driving the finance department’s spending line and pledged to provide more granular backup — including a return to the prior template that included tax-type breakout and prior-year comparatives — at subsequent meetings.
Commissioner Samples moved to receive and file the fiscal quarter report (January–March 2025, reported through April). A second was given; the motion passed unanimously.
