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City finance staff reports sales-tax gains and rising fund balance in quarter ending Dec. 31, 2025
Summary
Finance staff said the city is ahead of budget for sales taxes in Oct–Dec and reported a projected fund balance of $63.6 million at Dec. 31, 2025 (up from $62.1 million at 09/30/2025); staff noted one capital-expenditure variance previously reported in November budget amendments.
City finance staff presented the quarter-ending financial report for the period ending Dec. 31, 2025 and said the city is in a healthy fiscal position.
The presenter (speaker 17) said sales tax collections for Oct–Dec exceeded budget projections and that as of the quarter the city had collected roughly 27% of the annual budget — $11,564,008.96 — with a projected fund balance of $63,600,000 at 12/31/2025, up from an opening fund balance of $62,100,000 on 09/30/2025. Staff noted one capital-expenditure variance that had already been brought to council in November budget amendments.
Council members asked whether specific businesses were driving the sales-tax uptick; the presenter said the gain reflected broader-than-expected collections and cautioned against attributing it to a single firm. Staff will continue to monitor revenues and bring budget amendments if needed.
