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Finance director reports improved sales-tax outlook and forecasts year-end surplus
Summary
Finance Director Scott Pettingill told the City Council the third-quarter financial update shows general fund revenues about $84 million through March and an improved sales-tax forecast that could produce an $820,000 surplus compared with earlier estimates.
Finance Director Scott Pettingill presented the city’s third-quarter financial report, telling the council general fund revenues through the third quarter totaled roughly $84 million (about 60% of the $212 million budget) and that the city’s sales-tax outlook has improved since the last report.
Pettingill said sales-tax consultant projections now indicate a likely combined Bradley‑Burns and Measure B outcome near $100.4 million, creating a possible sales-tax surplus of about $820,000 compared with earlier, more pessimistic forecasts. Property-tax receipts, he said, are also anticipated to exceed original budget estimates by about $1.3 million. Combining these and department savings, Pettingill said the city projects a year-end general fund position between approximately $1.4 million and $8.8 million.
Given the more favorable outlook, staff said the city will move forward with a $6.4 million additional discretionary payment (ADP) to CalPERS that had been previously deferred. Pettingill reviewed enterprise funds and said the electric utility is projecting to finish the year about $9.8 million above budget due to higher usage and wholesale revenue; water and waste services are also expected to meet or slightly exceed budgeted revenues while operating under budget on expenditures.
Pettingill attributed recent sales-tax stabilization to a return to modest growth (about 3% for Roseville between 2024 and 2025) and a diversified sales-tax base that helped offset declines in some categories. He noted building permit and inspection activity ran above budget for the quarter and that transient‑occupancy taxes and parks/recreation revenues were tracking higher than expected.
Council members described the report as thorough and positive. A member of the public asked where to find the report; staff answered that the full report is attached to the agenda item and available on the city’s financial-transparency web page.
No formal council action was required on the presentation; staff said they will continue to monitor revenues and return with final year‑end results.
