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CFO: sales tax tracking to budget so far but LART faces shortfall; hotel rates cited as driver
Summary
City CFO Shari McDaniel told council that one data point for 2026 sales tax shows the city tracking to the budget, but the LART tourism fund faces a projected shortfall driven largely by a decline in average daily hotel rates; staff flagged a projected LART starting deficit of about $215,000 for 2026–27.
Shari McDaniel, the city’s chief financial officer, presented a quarterly financial report on Monday that framed 2026 budget assumptions and flagged a potential shortfall in the tourism (LART) fund driven mainly by lower hotel room rates.
McDaniel said the 2026 sales‑and‑use tax budget was set at $251,800,000 and that a single data point — January activity, reported in March — showed a 0.88% increase vs. the prior year month (rounded to 0.9%), which she said is the threshold the city looks for to track to budget. “So with one data point so far in the year, we’re tracking to budget,”…
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