In their July 22 meeting, the Miami Town Council held two public hearings: A truth in taxation hearing on a proposed $606 (4.4542%) primary property tax increase, and a hearing on the Town's final …
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In their July 22 meeting, the Miami Town Council held two public hearings: A truth in taxation hearing on a proposed $606 (4.4542%) primary property tax increase, and a hearing on the Town's final budget for fiscal year 2024/2025. There were no comments from the public in either hearing. Council then voted unanimously to adopt the final budget, in the amount of $52.9 million, along with an alternative expenditure limitation.
Council also received a report on the Gila County transportation excise tax performance audit from Deputy Auditor General Melanie Chesney. Chesney explained that in 2019 it was reported that the Town inappropriately loaned tax monies, intended for highways and streets, to other funds. She added that Miami was unable to demonstrate that $83,613 of indirect administrative expenses were appropriate, and the Town lacked policies and procedures for excise tax uses. Chesney told Council that both of these things have been corrected.
Through Dec. 31, 2023, she continued, Miami had received $732,525 in excise tax revenue with $582,691 being withheld. The audit found that the Town paid off its remaining excise tax loan balance of $75,298 in fiscal year 2021. The Town, Chesney said, must now complete financial statement audits for fiscal years 2022 and 2023; if no additional loans were made, the Arizona Department of Transportation will inform the State Treasurer to release the withheld funds.
Council approved a $6,500 funding agreement with Resolution Copper to sponsor cultural events: $4,730 for the Fourth of July event, $885 for the Town of Miami Car Show and $885 for the 2024 Concert in the Park series. If the Town does not have one of the events listed, the money can be reallocated or carried over to the next year but the Town should let Resolution know if that happens.