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Loveland officials say income-tax receipts may top $7 million; council accepts quarterly report
Summary
Finance Director Mark Medler reported the city is on track to finish 2025 with $7,000,000 in income tax revenue for the first time, flagged a $400,000 USDA reimbursement owed for the new fire station, and council accepted the third-quarter report 7-0.
Loveland's finance director told city council the municipality is positioned to collect about $7 million in income tax revenue in 2025 and that other revenue streams are performing well. The council accepted the third-quarter financial report by unanimous vote.
Finance Director Mark Medler said the strong performance to date — about 10% higher than 2024 through three quarters — has the city on track to reach $7 million in income tax receipts for the first time. He cautioned that November and December receipts may not run at the same pace as earlier months, but said the city remains confident in its revenue outlook.
Medler also warned of a cash-flow risk tied to federal reimbursements for the new fire station: he said the U.S. Department of Agriculture currently owes the city about $400,000 in fire-fund reimbursements and that a prolonged federal shutdown could require the city to temporarily float funds until reimbursement arrives. He stressed the city is not at risk of failing to pay bills and that construction on the station will continue.
Council moved to accept the third-quarter report and carried the motion by roll call, 7-0.
