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Council hears FY2025 quarter results; Oktoberfest net falls under $500,000 investment goal
Summary
CFO Stephen Glickman reported general fund revenue slightly exceeded budget and expenditures were under budget; Abby Morales said Oktoberfest neted just under $500,000 (including added marketing) and attendance rose sharply, while sponsorships trended down because a major partner pulled out at the last minute.
The council received the town's FY2025 fourth quarter financial report and a summary of Oktoberfest financials.
Stephen Glickman, chief financial officer, said the general fund brought in about 104% of budgeted revenue (driven by sales tax) and spent about 98% of budget, producing an estimated $3 million revenue over expenses; staff estimated $750,000 would move to economic development and $2.25 million to a self‑funded special projects fund after audit adjustments. He explained an apparent 8% sales‑tax dip year‑over‑year was affected by a one‑time reallocation recovery in August 2024 ($800,000) and that month‑by‑month charts show overall strength.
Abby Morales presented Oktoberfest figures: attendance increased significantly (reported at 49,700), but ticket price remained $15 and complimentary tickets given to partners limited admission revenue gains. She reported the event neted just under the $500,000 investment target including marketing; she said merchandising, vendor fees and a new Texas craft‑brew area drove revenue increases while a five‑figure sponsorship pulled at the last minute reduced sponsorship revenue.
Councilors asked for broken‑out marketing and expenditure line items for past years and for staff to show the marketing dollars included in multi‑year comparisons. Morales and finance staff agreed to provide more detailed breakout data for council review.
