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Brighton presents Q3 2025 budget update: revenues down year-to-date, sales tax trends mixed
Summary
City finance staff presented a Q3 (through Sept. 30) budget and financial update: year-to-date governmental fund revenues were reported down by about $5.8 million versus the same period last year; staff said sales taxes were up (staff cited 'up more than 3.2%' on one measure and 'still up 6.2%' on another) while property and use taxes declined, and the city has spent down over $10 million in reserves for capital projects.
City finance staff presented the third-quarter (through Sept. 30) 2025 budget and financial update to the Brighton City Council as an informational item; no action was requested.
Director Asher prefaced the presentation by noting the numbers are unaudited and reflect transactions processed through the end of the third quarter. Asher said overall governmental-fund revenue was about "$5,800,000 less than the same period for last year," and explained that while sales-tax receipts were reported as "up more than 3.2%" on a cash-reporting basis, a later slide characterized sales-tax performance as "overall still up 6.2%" when adjusted by filing dates.
Asher said property taxes were down (about $1.2 million compared with the same period last year) and use taxes—driven by construction activity—were lower as development slowed. Investment earnings were lower as the city drew down reserves to fund capital projects and because of recent interest-rate declines; Asher said the city has spent down over $10,000,000 in reserves as planned for projects such as the municipal service center and Bridge Street work.
On spending, Asher said personnel costs were up nearly 11% year-to-date because of added positions, market adjustments and benefits. Operating expenses rose (notably software and insurance) and capital spending increased in Q3 with the water enterprise, capital and parks capital funds showing meaningful added expenditures. Catherine (finance staff) described budget utilization graphs and said much capital spending will carry forward into next year, particularly Parks and Recreation capital tied to the RecPlex.
Asher and staff said they will continue to monitor November and December sales-tax returns, and that a full audited picture will be available after the year's audit is completed.
