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Show Low presents midyear fiscal update; most funds tracking near budget
Summary
City finance staff reviewed the midyear financial report showing general-fund revenues near 50% of budget, some timing-driven variances in expenses, and upcoming debt-service reductions that will lower payments in 2026–27.
City finance staff presented a midyear financial update to the Show Low City Council on Feb. 4 showing that most general-fund revenues and utility funds are tracking near budgeted expectations, with several timing-related variances noted.
Justin (finance staff) told council that 50% of budget is the rough midyear benchmark and that most line items were close to that mark. He said police-related revenues appeared low in the packet because the city had not yet received dispatch billing records at the time the report was prepared; he confirmed to the council that the dispatch billing had been received and that police revenues are now about 51% of budget.
Other highlights from the presentation: - Parks and recreation revenues were running under budget for the first half of the fiscal year but were expected to rise with spring program enrollments. - Grants can be volatile due to federal timing; staff said they expect grant revenues to meet budgeted totals by year end. - Some expense categories were above 50% because of timing: city magistrate and information services showed higher expenditures because large purchases and contracted payments were made early in the fiscal year. - Sales tax collections through December outperformed the prior year in four of six months; preliminary January figures were roughly $20,000 higher than the prior January with a week still remaining in the month at the time of reporting. - Airport fuel margins declined after the city’s airline carrier began purchasing fuel in Phoenix; the carrier agreed to monthly lease payments to offset some of that change. - Utility fund activity: water revenues were about 70% of budget because WIFA-funded projects carried over from prior years; wastewater and sanitation were tracking close to expectations once final monthly numbers are recorded. - Debt service: the city has two debt issues scheduled to retire over the next two years, which will reduce annual debt service payments (the transcript cited a reduction of roughly $439,000 for the streets budget when one series retires).
Councilors asked several clarifying questions during the presentation (for example, the meaning of the “all other” revenue line and timing of sanitation numbers). Finance staff indicated a conservative approach to interest-earning budgets and explained that some line-item timing drives deviations at midyear. The report closed with staff offering to provide additional detail on any line item as requested. No formal council action was taken on the midyear report at the meeting.
