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Quarterly Riverside Village finance update shows strong hospitality tax growth; TIF and debt items noted
Summary
Finance Director Linda Williamson presented the city's quarter-two disclosure showing over 99% current-year tax collection, hospitality-tax growth (~6.3%), accommodations tax up 29% to $419,402 and a legal debt margin of $16.3 million; staff noted a $350,000 intergovernmental TIF payment and that stadium/Green Jackets rent receipts will update in the next quarter.
Finance Director Linda Williamson gave the city's second-quarter voluntary disclosure and walked council through tables from the recent audit: assessed values for 2024 tax year, tax rates, the general fund budget, largest taxpayers and tax-collection statistics. Williamson said the city continues to collect over 99% of tax revenue in the year it is levied and noted that hospitality-tax collections are up about 6.3% year over year. "So far this year, we've collected over 1,000,000 and $0.5 in hospitality taxes," Williamson said, and she added that accommodations-tax collections were up 29% from the prior quarter to $419,402.
Williamson also reviewed the city's debt disclosure as of 12/31/2025, noting a legal debt margin of $16,306,331, and reported that TIF revenues include a roughly $350,000 payment the city owed under an intergovernmental agreement that has been fulfilled. She said stadium rent and Green Jackets receipts are usually received in August and will be reflected in upcoming quarterly reporting. Councilors asked clarifying questions about where additional parking-revenue allocations might go and staff suggested establishing a dedicated operations and maintenance line for parking-deck upkeep if the city's parking program generates excess revenue.
