At Monday’s City Council meeting, staff from the City’s Budget Office presented the second quarter financial report, highlighting performance from January through March 2025 across the City’s five operational funds: General Fund, Water and Sewer Fund, Solid Waste Services Fund, Golf Fund, and Hotel/Motel Tax Fund.
Overall, revenues and expenditures for most funds are tracking within budgeted expectations for Fiscal Year 2024-25. Key highlights from the report include:
- Property Tax Revenue is projected to fall short by approximately $3 million due to the unfavorable outcome of property value dispute lawsuits and a significant reduction in the certified tax roll from appraisal district supplements.
- Sales Tax Revenue ended the second quarter $2.7 million above the budgeted target, providing a strong offset to the lower property tax collections.
- Golf Fund Revenue was initially below expectations due to the delayed reopening of Sherrill Park Course 2. However, once reopened, rounds in March exceeded projections, with April and May (not included in this report) showing similar positive trends.
- Hotel/Motel Tax Fund Revenue is trending below budgeted targets, primarily due to lower-than-anticipated revenues from the Eisemann Center and hotel occupancy taxes.
All five operational funds are currently expected to finish the fiscal year within budget.
Monday’s presentation: Click here
