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El Paso County CFO reports modest revenue gains and timing variances in March quarterly budget
Summary
Chief Financial Officer Nikki Simmons told commissioners the March 2026 quarterly budget is generally on track: sales and use tax collections are running above budget year-to-date, interest income is lower than last year, and miscellaneous revenue has already exceeded the 2026 appropriation.
Chief Financial Officer Nikki Simmons presented the March 2026 quarterly budget report at the April 28 meeting, summarizing revenue and expenditure trends across funds.
Key points Simmons reported: sales and use taxes were up 3.71% year‑over‑year through February and showed a positive variance of about $272,000 for the year-to-date period; property tax receipts were coming in earlier than trend but expected to smooth when April and June payments post; interest income on investments was lower than a year earlier (March average rate cited at 2.7% versus last year's ~3.6%); clerk and recorder recording fees were above budget with $3.8 million in collections through March; and miscellaneous revenue had already exceeded the 2026 budget, primarily from early sale/auction of fleet equipment.
Simmons said highway user taxes and specific ownership taxes were trending higher than budget in road and bridge funds, and that aviation fuel tax receipts were lower year-to-date than typical. She recommended no immediate budget adjustments and indicated staff would return with specific appropriation requests when needed.
Commissioners asked clarifying questions about aviation fuel receipts and the CFO explained timing and hedging of fuel purchases could explain swings in fuel‑tax collections.
