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Midyear report: Oro Valley sees sales‑tax shortfall, updates year‑end forecasts
Summary
CFO Dave Gephardt reported that total revenues are up slightly year‑over‑year but overall local sales taxes are underperforming compared with the budget, driving a projected general‑fund shortfall; staff outlined fund‑by‑fund impacts and potential management steps.
At the March 4 Oro Valley Town Council meeting, Chief Financial Officer Dave Gephardt presented the town’s unaudited midyear financial report for the first half of fiscal 2026 (through December 2025), describing variances across multiple funds and updated year‑end estimates.
Gephardt said total revenue collections were about $400,000 ahead of the prior fiscal year but that overall revenues were at 45 percent of budget at midyear — short of the 50 percent benchmark — creating a midyear shortfall of roughly $3.24 million largely driven by weaker local sales tax collections. He highlighted construction sales…
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