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Council approves Quarterly Financial & Investment Report showing sales tax decline and seasonal property-tax collections
Summary
Council approved the Quarterly Financials & Investment Report for period ending Dec. 31, 2025: General Fund revenues ~22% of budget, property-tax collections ~49% (seasonal), and sales tax ~19% and trending downward; council recorded a unanimous vote to approve.
Finance staff presented the Quarterly Financials & Investment Report for the period ending Dec. 31, 2025. The first-quarter FY26 snapshot showed General Fund revenues at about 22% of expected budget, property‑tax collections around 49% (explained as seasonal timing), and sales-tax receipts near 19% with a downward trend. Staff noted some overages tied to early-year insurance and service-contract payments but described the overall financial position as strong.
Following the presentation, Kevin D. Edmonds moved to approve the report and Marston S. Holt seconded; the council voted 7–0 to adopt the quarterly financials. The minutes do not record requests for supplemental analysis, though the staff noted sales-tax decline as an item being monitored.
