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Keene Finance Director Reports December Quarter Revenue Shortfall, Sales-Tax Gains and $72,000 IRS Refund
Summary
Finance Director Mara Lam reported year-to-date revenue of $1,269,475.95 for Oct.1–Dec.31, 2025, roughly $695,000 lower than last year and 16% under budget, while noting strong ambulance/service revenues, a $72,000 IRS refund and pooled cash and reserve balances.
Mara Lam, Keene’s director of finance, presented the quarterly financial report covering Oct. 1 to Dec. 31, 2025, saying year-to-date total revenue was $1,269,475.95 — about $695,000 below the prior fiscal year and 16% under budget. Lam said part of the apparent variance was timing: a large property-tax remittance usually expected in December arrived on Jan. 14 this year, affecting the December snapshot.
Lam highlighted strong performance in ambulance and emergency service revenues, reporting those lines were substantially higher than last year and attributing some revenue increases to additional ESD funds. She also said the city received a $72,000 refund as part of an IRS audit process.
Lam showed sales-tax collections had improved versus the prior year and that pooled cash stood at about $5.54 million as of Dec. 31, 2025, with reserve accounts just over $2.07 million. She noted water/sewer operations finished the period $123,553.91 over expenses.
Council and the city manager discussed revenue strategies to increase funds for infrastructure — including growing sales-tax–driven revenue to set aside for streets — and noted that current budget assumptions limit how much can be dedicated to capital work without added revenue. The city manager reiterated work on grants and planning to prioritize 'worst to first' infrastructure improvements.
