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Smithville nine‑month budget update: revenues stronger than expected, projected deficit narrows
Summary
Staff told the Board of Aldermen that nine‑month revenues — led by sales/use tax, interest income and commercial permit activity — have outpaced conservative projections, shrinking the FY25 deficit from the $810,000 adopted estimate to an expected roughly $153,000 and moving the city close to breakeven.
Presenter delivered the city's nine‑month budget update, saying the conservative approach to budgeting has given the city authority if conditions change and that "revenues have been coming in, pretty good." The presentation listed the 11th budget amendment for the year and reported projected general‑fund revenues just under $7,300,000 at the nine‑month mark.
The presenter highlighted several revenue streams showing strength: sales tax ($1,440,000 as of Aug. 15), use tax (about $900,000 as of Aug. 15) and unexpectedly high interest income. The presenter summarized the fiscal bottom line: "we did approve an $810,000 deficit" in the adopted FY25 budget, but current projections place that shortfall closer to $153,000 and "I definitely feel like we will be very close to breakeven at the end of this year."
