Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
Finance staff: revenues and expenditures on pace through January; sales tax up
Summary
Finance staff reported January 2026 general fund revenues and expenditures are on pace with the budget; sales tax receipts were about 6.5% higher year‑over‑year and some bond proceeds remain to fund projects such as fire station completion and initial school design work.
Finance staff Celeste presented the January 2026 finance report and told the committee that general fund revenues and expenditures remain on pace to meet budgeted levels through January 31. She reported sales tax receipts are about 6.5% higher than the same period last year and meals tax receipts are about 4.5% higher; transient lodging (hotel) tax is the one major tax showing a decline.
Celeste noted bond proceeds remaining to spend from recent issuances: approximately $10.2 million from 2024 bonds, $7.8 million in VRA bonds, and about $23 million left from 2025 bonds. She said some of those proceeds will fund the fire station completion, road projects and initial design work for schools (about $900,000 for school design).
The report will be attached to next week’s council agenda; staff will provide updated budget numbers during the upcoming budget cycle.
