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Finance director: tax collections ahead of schedule; revenues outpacing projections
Summary
Finance staff reported current-year tax collections of $52,095,891.62 (78.29% of budget) and overall revenues at 73.62% of expected; expenditures are running under budget at 62.93% for the year. The report included interest earnings on ARPA funds and noted a forthcoming tax sale on May 9.
The council received the town—s February 2025 monthly finance report, which showed current-year tax collections of $52,095,891.62, equal to 78.29% of the budgeted amount. Finance staff reported overall revenues at 73.62% of expected for the fiscal year and expenditures at 62.93% of budgeted levels, about 3.74 percentage points below the expected 66.67% pace.
The report noted prior-year tax collections…
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