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Financial Report April 2025

Written by David Robinson on . Posted in City Budget

The City’s April Financial Report showed continued strong performance in income tax collections and other sources of income, e.g., member fees at the Community Center and interest income on investments.  Income tax collections were 3.5% above budget, and 1% above last year.  (see graphic below for General Fund Revenue #s, budget/estimate to actual).

Both All Funds (which includes the Capital Improvement funds) and the General Fund remain in historically strong positions.  The General Fund Cash Balance, even after removing $4 million to fund the pool redevelopment, was $30.3 million, with the Unencumbered Balance at 61% of prior year expenditures ($21.7 million), an extremely healthy position. (see graphic below):

Sources of revenue were more dependent on Property Tax (17%) than has been the case in recent years (typically around 10-12%), and less so on Income Tax (62%, typically 70-75%). (see graphic below):

For the full report, go to pages 7-12 here: https://worthington.org/ArchiveCenter/ViewFile/Item/6300

 

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.