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Rio Communities sees higher-than-expected franchise, GRT and property tax revenues; first cannabis distribution recorded
Summary
City finance staff told the council that franchise tax, municipal gross receipts tax and current property tax exceeded budgeted amounts; the city also recorded its first cannabis tax distribution and posted it under "other state shared taxes" because the state lacks a cannabis object code.
Council finance staff reported several revenue lines came in above budget during fiscal 2025–26, and the adjustments in Resolution 2026‑13 reallocate those unexpected revenues across funds.
"At the very top there, our franchise tax exceeded our budgeted revenues by approximately $44,000," the finance officer said. She also listed gross receipts tax at about $22,500 over and current property tax roughly $60,000 over budget. In addition, a municipal equivalent GRT distribution was about $10,500 higher than anticipated.
The finance officer also confirmed the city received its first cannabis tax distribution in July. She said the state has not provided a separate object code for cannabis receipts, so the amount was recorded under "other state shared taxes." The packet lists the cannabis distribution amount using the transcript phrasing "$3,436.00 4"; the figure was stated on the record but is unclear in the transcript and should be verified.
