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Huachuca City hears positive mid-year finances; council directs staff to begin Truth in Taxation notices
Summary
Council reviewed a mid-year financial report showing revenues exceeding expenditures by about $231,000 year-to-date and unanimously directed staff to begin the Truth in Taxation public-notice process as part of budget planning, with no final tax rate set.
Ruben Villa told the Huachuca City Council on March 12 that the town’s financial report through Jan. 31 represents 59% of the fiscal year and that the numbers are "unaudited and are subject to change." He said overall revenues exceeded expenditures by about $231,000 year-to-date but cautioned the landfill fund remains constrained pending grant reimbursements.
Villa highlighted sales tax as the largest general-fund revenue source and said reporting lags related to State Highway 10 construction may alter near-term totals. He told the council some line items have exceeded budgeted amounts and staff will reexamine and reallocate during the upcoming budget process.
Council discussed whether to begin the statutory Truth in Taxation notice process — required if a taxing entity proposes levies that increase beyond last year’s amounts excluding new construction. Staff presented options showing a midpoint rate could raise roughly $128,000 in town revenue, with an illustrative $100,000 home facing about a $12 annual increase at midpoint and roughly $24 at the maximum option.
Mayor Johann R. Wallace moved and Debra Trate seconded a direction to staff to begin the Truth in Taxation public-notice process; the motion passed unanimously. Council emphasized this action simply starts the public-notice and hearing steps and does not set a final tax rate.
