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Interim finance director: DeSoto fiscal year about 83% complete; sales tax lags at 66.8%
Summary
Interim Finance Director Lakita Sutton reported July numbers showing property tax nearly fully collected (97.2%), general fund receipts at $58.3M of a $64.3M budget (90.7%), and sales tax collections tracking at 66.8% year‑to‑date, a regional trend staff said they are monitoring.
Interim Finance Director Lakita Sutton presented the city’s July 2025 financial report to the City Council on Aug. 18, saying the fiscal year is roughly 83% complete and highlighting collections and department spending.
Sutton reported property tax collections are nearly complete — "we're just about finished collecting those for the year, already at 97.2%" — and said general fund revenues stand at about $58.3 million of a $64.3 million budget (approximately 90.7% collected). She said interest revenue has exceeded expectations, contributing just over $1 million to the general fund so far.
Sutton told council that sales tax collections are lagging compared with typical seasonal expectations: “We’re currently at 66.8%,” she said, and staff are tracking regional trends indicating other nearby cities show similar shortfalls. Sutton said the city still expects to collect additional sales tax in the 60‑day accounting window after the fiscal year closes and believes it will approach budgeted targets.
Council members asked for clarifications and more detailed line‑item information. Councilmember Parett Parker requested a breakdown of the 'non‑departmental' line (which is 105.8% of expected) and details about the economic incentive overrun, which Sutton described as one incentive agreement that increased costs modestly. Sutton said some IT overspend reflects professional services and that capital purchases for IT would be funded from the capital budget.
Sutton also reviewed enterprise funds: the public utility fund has collected about $26.1 million of a $30.4 million budget (roughly 85%), with water and sewer receipts contributing most revenues, and the sanitation fund is at about 83% of budget. She concluded by offering to provide follow‑up details requested by council.
What’s next: Sutton will supply the requested breakdowns to council and continue to monitor sales tax trends and collections as the fiscal year closes.
