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Oro Valley CFO reports unaudited shortfall in early FY25–26; council seeks project-level revenue assumptions
Summary
CFO Gephart presented an unaudited quarterly financial update through Sept. 2025 showing general fund revenues below expectations (≈21% of budget, ~$2.5M shortfall estimate) and increased transfers/outlays; council asked for project-level assumptions, clarification on bed tax timing and a payer behind on remittance.
The Oro Valley Town Council heard an unaudited quarterly financial update through September 2025 from Chief Financial Officer (CFO) Mr. Gephart on Nov. 19, 2025. Gephart emphasized the figures are unaudited and subject to change.
Gephart said total general fund revenues were lower than the prior fiscal year by about $535,000 and that revenues were at roughly 21% of the annual budget through the first quarter, reflecting a projected shortfall of about $2.5 million relative to where the town would expect to be one-quarter into the year. He attributed the shortfall primarily to weaker local sales tax collections, led by underperformance in construction sales tax. “The primary driver of this shortfall was local sales tax revenues,”…
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