Pinetop Lakeside — The town’s finance presenter, Gabe, told the Town Council that year-to-date general fund revenues through December stood at about $3,960,857 and that transaction-privilege-tax (TPT) collections — the town’s primary sales-tax revenue — were roughly $2.8 million, about 51% of the annual budget.

Gabe said overall TPT across all funds was down about 3.1% year-to-date compared with the previous year and that December alone fell about 13% from the prior December, largely driven by a 56.6% decline in construction-related receipts. He said retail sales and restaurant/bar activity rose modestly (retail up about 2.5%, restaurants and bars up about 7.8%), but those gains did not offset the construction shortfall.

On expenditures, Gabe reported total expenses of roughly $37.3 million (about 39% of the adopted budget) and noted that most special funds remain underspent because several projects were completed earlier in the fiscal year. He identified fleet maintenance as an exceptional category where repair costs exceeded expectations.

The town ended December with approximately $1.8 million in general fund cash, an increase of about $424,000 from November but down roughly $2.1 million from the prior year. Gabe said the projected year-end general fund balance is near $1.4 million, a slight decrease from the immediate prior month because of the December TPT shortfall.

Mayor Erwin invited council questions; none were asked during the presentation. The council did not take formal action on the financial report at the meeting beyond accepting the presentation into the record.

The council approved the consent agenda earlier in the meeting by unanimous voice/hand vote.