Commission approves June financial report showing modest revenue dip, sales-tax gain
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Summary
The City Commission voted 5-0 to approve the June finance report after a presentation by Kim Rupp, director of finance, who reported a year-over-year revenue decline driven mainly by reduced midyear transfers and lower airport grant receipts; month-to-date sales tax rose 6.7%.
Kim Rupp, director of finance, presented the City of Hays financial summary for the month ended June 30, 2025, and the City Commission approved the report in a 5-0 vote.
Rupp said revenues in June totaled $10,000,002.34 and were down about $664,000 compared with the same period last year. She told commissioners that a $103,000 depreciation entry related to two hail claims was recorded to miscellaneous capital-project revenue and that midyear transfers — largely into the general and employee benefits funds — were lower year over year. Rupp also noted the airport improvement fund was off about $904,000 because CARES Act funding was reflected in the prior year.
The nut of the monthly performance, Rupp said, was that expenditures in June totaled roughly $8,000,001.51 and were up roughly $605,000. "As mentioned, hail repairs are continuing. Therefore, capital projects increased $829,000," Rupp said, adding that insurance and intergovernmental costs rose because of the timing of a property liability payment.
Rupp highlighted sales-tax figures that the commission focused on: "Month to date, general fund sales tax collections were at $816,000, which was an increase of $51,000 or 6.7% compared to last year," she said. Year-to-date general fund sales tax was reported as trending up 2.7%.
Commissioner Musil moved to approve the June finance report; Commissioner Cunningham seconded the motion. After brief informal discussion among commissioners, the motion passed 5-0.
The report included a portfolio snapshot: U.S. Treasury par value for June was listed at $11,717,000 with a weighted average yield to maturity of 4.2%, and total certificates of deposit par value at June 30 was reported at $58,400,000 with a weighted average rate of about 4.5%. Rupp said money market balances and overall investment yields were modestly down from a year earlier.
The commission did not request further action on the report beyond approval.
Ending: Commissioners moved on to other agenda items after the vote; the finance report will be part of the official record and included in the minutes.