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Payson mid-year report shows lower-than-expected sales tax but reserves remain to fund planned projects
Summary
Finance staff reported general fund revenues below budget driven by weaker sales tax receipts; town staff said planned capital spending and HEERF projects will be adjusted and council will have FY26 capital proposals next week.
March 3, 2025 — At its mid-year budget update, Payson finance staff told council that general fund revenues are projected to come in below budget for FY25, largely because sales tax receipts are down compared with expectations; staff said the town still retains fund balance to cover planned capital work, but reserves have drawn down from prior levels.
Finance Director Dana reported that the town now projects general fund revenues of about $35.7 million for the fiscal year, roughly $4.3 million below the current budget. Sales tax receipts and state-shared tax revenues were the primary drivers of the…
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