City Finances: Update, 4/30/23
Dear Reader, At last week’s City Council meeting, Finance Director Scott Bartter provided us with the City’s March and April financial reports. The upshot is that current performance is strong. And, as a bonus, he gave us the news that the City’s AAA rating had been recently reaffirmed as part of the City’s issuance of new bonds. This AAA rating is important because it enables us to secure the best possible interest rates for financing capital projects, etc., and because it provides an independent validation of our underlying financial health.
Regarding current performance, our General Fund Revenue for the first four months of the year was 9.1% over budgeted projections:
Income tax revenues through 4/30/23 were up:
And the General Fund Balance remains strong:
You can view here the full financial reports for March and April, 2023, pages 15-26: https://storage.googleapis.com/document-uploads-001/uploads/video/agenda_file/227962/5-8_WorthingtonCC.pdf