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Committee reviews financial reports; hotel-tax receipts show mixed month-to-month results
Summary
City staff presented financial reports for October–December 2025 and noted hotel-tax receipts rose in December but declined sharply in January compared with the prior monthly figure mentioned in the meeting; staff said overall finances remain favorable due to third‑party collections and a recent rate increase.
Staff presented financial reports covering October, November and December 2025 and provided a brief update on hotel‑tax receipts. The presenter said hotel tax was up in December compared with November and that January receipts declined from the previous monthly figure cited in the discussion (the transcript reports a decrease “from 35 to 20” for January), but noted January 2025 receipts had been only $18,000 so year‑over‑year comparisons remain positive.
Committee members asked whether the financial reports required formal approval; staff clarified the financials were for discussion only and did not require a vote. Staff credited third‑party collections and a recent rate increase with helping revenue performance and said the city remains over budget for the period reviewed.
Members also heard operational notes: a loader breakdown delayed removal of roll‑offs on Santa Fe and the city is awaiting a mechanic to complete repairs. Committee members asked about the tourism-tax budget and staff said they will circulate email updates to subcommittees and relevant staff.
