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Atwater finance director reports modest Q1 sales-tax uptick, outlines pension/OPEB trust plan
Summary
Atwater City Finance Director Anna Nicholas told the Audit & Finance Committee the city's Q1 2025 sales-tax receipts rose 3.6% year-over-year but the current forecast does not require revision; she reviewed the Section 115 combo trust balance, actuarial liabilities and planned budgeted contributions.
Anna Nicholas, Atwater City finance director, told the Audit & Finance Committee on April 2 that calendar-year 2025 first-quarter sales-tax cash receipts rose 3.6% from the same quarter last year, but that the data do not currently justify changing the city's revenue forecast before the midyear review.
Nicholas said the city used a conservative-hybrid approach when budgeting sales-tax revenue for the general fund in FY25/26, setting a net estimate (after county and CDTFA administration charges) at $4,500,000. She said the public-safety transactions and use tax was budgeted at $5,200,000 and emphasized that the public-safety tax is destination-based and not subject to county sharing, so revenues depend on in-city retail activity such as car dealerships.
The finance director…
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