Tempe maintains its plan of more frugal spending and budget balancing measures with the loss of residential rental taxes, while staff looks at other potential losses of revenue and how the city plans to address them.
Deputy City Manager Lisette Camacho and Interim Municipal Budget Director Julie Hietter gave a presentation at Tempe City Council’s Feb. 24 work study session, providing the latest update on the city’s long-range financial forecast for its major operating funds.
Council last received a long-range financial forecast at a Nov. 19, 2024, meeting. Since then, Camacho said there has been a continued decline in local tax revenue because of lower year-to-date taxable sales and collection, and staff is recommending additional budget-balancing measures.
