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Town CFO: Community Center fund steady at midyear despite flat sales-tax; golf and memberships driving revenue
Summary
Dave Gephart, the town of Oro Valley chief financial officer, told the Parks and Recreation Advisory Board on Feb. 18 that midyear results show local sales-tax receipts running below budget while golf operations and membership dues are outperforming.
Dave Gephart, the town of Oro Valleychief financial officer, told the Parks and Recreation Advisory Board on Feb. 18 that the Community Center Fund was broadly in a healthy position at midyear despite local sales-tax receipts running below the original budget.
"We're seeing townwide that our local sales taxes are really flat," Gephart said, and the town reduced its sales-tax revenue forecast by about $20,000 from the adopted budget. He said the fund's year-end estimate has nonetheless improved overall because contracted operating revenues (including the town's golf contractor, Indigo) and membership dues are outperforming prior-year levels.
Gephart highlighted three revenue themes: local sales-tax collections were at roughly 47% of budgeted expectations through December; contracted operating revenue and…
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