To Inform & Inspire, Provoke & Dispel—Ideas and actions for life in Worthington, Ohio
Ideas, Actions, People, and Commentary in the City of Worthington

Financial Report, end of Third Quarter, September, 2025

Written by David Robinson on . Posted in City Budget, City Services, Good Governance, Household Impact

Overall, a very strong report.  The City’s September Financial Report showed steady growth in income tax collections, continuing the upward trend beginning in 2020.  Income tax collections were 3.3% above budget and last year’s collections.  See image above.

Total revenue for the General Fund—which includes not only income taxes, but other important revenue sources such as the Community Center, Interest Income, and Property taxes—was 7.8% above budget (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 (earlier this year ) $4 million to fund the pool redevelopment, was $33.2 million, with the Unencumbered Balance at 76% of prior year expenditures ($27.0 million), an extremely healthy position (see illustration below):

Property Tax accounted for a larger share of total revenue (13.5%) than usual (typically around 10-12%), while Income Taxes accounted for a slightly smaller portion than in recent reports (66.2%, typically 70-75%; see graphic below):

An additional bit of good financial news—the City again received a AAA credit rating from Standard & Poor (S&P), not only indicating our strong financial fundamentals, but also having the practical benefit of lower interest rates when we seek bond financing, etc.

For the full report, go to https://towncloud-core-prod.s3.us-west-2.amazonaws.com/uploads/worthington-oh/meetings/item_attachment/attachment/4151/September_2025_Finance_Report_to_Council.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.