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City finance staff report lower sales and gambling revenue, offset by higher utility taxes; council told to expect tightened 2026 spending
Summary
At the March 26 study session finance staff said sales and permit revenues were below budget in 2025 while utility taxes exceeded projections and gambling taxes fell amid bankruptcy at a local casino; council was told staff plan expenditure reductions for 2026 and will present first‑quarter 2026 numbers in May.
Finance staff presented the city’s fourth‑quarter 2025 fund‑by‑fund financial report at the March 26 study session, highlighting variances and planned budget adjustments.
Key revenue variances: Sales tax receipts for 2025 came in below the adopted budget; utility taxes were slightly above budget, and gambling taxes declined due to ongoing bankruptcy proceedings involving the local casino.…
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