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Hot Springs council opens budget hearings with $125,000 general-fund shortfall
Summary
City finance staff told the council a projected $125,275 gap in the 2026 general fund and walked members through revenue estimates, enterprise funds and a plan to reach a structurally balanced budget over two meetings.
Hot Springs — City finance staff opened the first of two budget hearings on July 5 with a point estimate for the 2026 general fund showing a shortfall.
"In comparing our revenue to our expenses for estimates for 2026, in our general fund, we're projecting a loss of a $125,275," Misty, the finance presenter, told council members as she walked through revenue worksheets and historical collections.
The staff presentation identified major revenue sources and assumptions: general property tax collections of $1,418,450 based on a historical collection rate of 96–98 percent; municipal sales and use tax projected at about $1.6…
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