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Quartzsite reports $9.27 million in long‑term liabilities; midyear revenue at about 42%
Summary
Assistant town manager Tannell told the Quartzsite council the town collected roughly 42% of its budgeted revenue at midyear (July–Dec 2025) and reported $9,270,466 in outstanding long‑term liabilities, while expenses remained near 24% of budget.
Assistant town manager Tannell presented a midyear financial overview to the Quartzsite Town Council on March 24, saying the town had collected about 42% of its budgeted revenue for fiscal 2025–26 at the halfway point and that long‑term liabilities totaled $9,270,466.
The presentation laid out fund categories, revenue sources and debt service. "Revenue performance, the town has collected 42% of budgeted revenue," Tannell said, noting timing differences in state shared revenue and describing the town's diversified fund structure (general fund, Highway User Revenue Fund/HEER, and enterprise funds for water/wastewater).
Tannell told council members the town had issued a 2022 excise tax revenue refunding bond of $4,615,000 to refinance earlier debt and fund water and wastewater improvements; the bond’s final payment is scheduled for July 1, 2033, and the presentation cited an interest rate near 2.38%. She also listed several USDA loans that began in March 2020 with monthly installments (examples cited in the presentation) and final payments in January 2059, and a Water Infrastructure loan (WIPA/WIFA) with monthly payments (presented as $8,636) and an expected final payment in June 2031.
On operational performance, Tannell reported the town had spent about 24% of its budgeted expenses at midyear, which she described as strong expense control. "The gap between revenue collected and expenses incurred reflects a favorable financial position," she said, recommending continued monthly monitoring and four‑year trend analysis.
Council members asked for clarifications on revenue timing and line items. Mayor Norm Simpson emphasized the limits of local revenue: "The town of Quartzsite does not get real property taxes," he said, clarifying that property taxes are collected by county and state authorities, not the town.
Tannell acknowledged one missing financial overview table and said it will be placed on a future council agenda. No formal vote was required for the presentation; council discussion concluded and the meeting continued to other agenda items.
The midyear figures will inform the town’s budget deliberations later in the fiscal cycle and staff said they will provide updated line‑item detail requested by council members.
