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City finance director reports stable first quarter; sales tax flat and property‑tax growth easing
Summary
The city’s Q1 financial update showed property‑tax receipts strong and sales tax essentially flat; staff projected a preliminary balanced year but warned that franchise fees and sales tax remain volatile and will be monitored.
City Controller Robert Cortinez presented the City of El Paso’s fiscal‑year 2025 first‑quarter financial report on Feb. 4, saying the city’s books currently project to end the year close to the adopted budget but that sales tax and franchise fees require close monitoring.
Lede facts: Through the first quarter (September–November), the general fund had collected about 15.2% of budgeted revenue and expenditures were at roughly 19.7% of budget. Property‑tax revenue was ahead of prior year collections; sales tax was…
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