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Oro Valley staff report lower-than-expected revenues through December and project personnel and transfer savings
Summary
Town staff told the Budget and Finance Commission on March 19 that Oro Valley’s general fund revenues through December were at roughly 47% of budget and down about $1.7 million from last year; personnel vacancies and reduced transfers are producing projected savings for the fiscal year.
Town staff told the Oro Valley Budget and Finance Commission on March 19 that preliminary, unaudited financial results through December 2024 show lower general fund revenues and projected savings on the expenditure side.
“Our amounts, our actuals, and our estimates are both preliminary. They’re obviously unaudited,” staff member Wendy said when she began the presentation, cautioning that year-end results could change. Through December, general fund revenues were at 47% of budget and about $1.7 million (roughly 6%) below last year, she said; the two largest revenue sources—local sales tax and state-shared revenues—were down year over year.
Construction sales tax was the largest driver of the local sales-tax decline, falling about 25% compared with the prior fiscal…
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