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Council hears revenue projections, occupancy tax and interest figures; staff to prepare adaptive budget
Summary
Finance staff reviewed estimated revenues including occupancy tax and interest income, noted projections are tentative and that summer revenue should raise totals; the council agreed an adaptive budget approach may be needed as collections complete.
During the draft budget review attendees examined near‑term revenue projections. The presenter walked through a report that included figures the transcript records as occupancy tax $2.60, interest income $15.05 and total revenue $2.75, noting these are estimates and that collections for part of the period were still pending.
Council members and finance staff said summer collections should raise those revenues and that projections will be refined as additional payments arrive. The presenter recommended an adaptive budget to accommodate seasonal revenue swings and asked departments to identify potential operating reductions to help close the budget gap.
No changes to fees or tax levies were adopted at the meeting; staff were tasked with updating revenue projections and reworking the draft budget to reflect updated collections.
