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City Finances: Update, 4/30/23

Written by David Robinson on . Posted in City Budget, City Council

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

David Robinson

David Robinson lives in Worthington with his wife, Lorraine, and their three children—two who attend Phoenix Middle School, and one who is a graduate of the Linworth High School Program and Otterbein University. David is President and co-owner of Marcy Adhesives, Inc., a local manufacturing company. David has served on Worthington City Council since January, 2018, and is deeply committed to 1) advancing resident-centered policies, 2) supporting responsible development that enhances our unique historic character, 3) endorsing environmentally sustainable practices for both residents and city operations, 4) promoting the safety and well-being of all residents, and 5) preserving the walkable, tree-filled, distinctive, friendly nature of our neighborhoods.