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Committee accepts quarterly financial report showing flat revenues, dip in hotel tax
Summary
The Financial Review Committee accepted the quarterly report for July–September 2025, reporting $8.6 million in general fund revenues (about $100,000 higher than last year) and $11 million in expenditures for the quarter; transient-occupancy tax fell about 3.5%, attributed mainly to lower occupancy at the Ritz Carlton. The vote was 3–0 with two members absent.
The Financial Review Committee on Oct. 28 accepted its quarterly financial report for the period ending Sept. 30, 2025, after a brief staff presentation and committee discussion.
Staff reported that "General fund revenues during this quarter was 8,600,000.0, which is just over a $100,000 more than same period last fiscal year," and that transient-occupancy tax (TOT) for the three months was down "about 3.5%, primarily driven by lower occupancy still at the Ritz Carlton," according to staff commentary. The staff presentation said sales tax and charges for services were roughly flat and that license and permit revenues were slightly up but too early to call a trend.
Total reported expenditures for the quarter were $11,000,000 (not including transfers out), "down 224,000 compared to previous fiscal year," staff said, and attributed the year-over-year difference primarily to timing on street maintenance work and the timing of city attorney invoices. Committee members described those timing differences as not indicating a sustained change in costs.
After a short discussion, a committee member moved to accept the quarterly report; the motion passed 3–0 with two members absent. Member Killebrew, Member Riggs and Chair Mitchell voted in favor.
The committee did not identify additional staff follow-up for this report. The committee’s next regular meeting is scheduled for Jan. 27, 2026, at 4 p.m. in the Public Office Conference Room.
