News

Falls Church Jan-March Revenues Ahead of Last Year & Current Projections

A summary of revenues from the third quarter (Jan-March 2012) of the current fiscal year in the City of Falls Church, presented to the City Council tonight, indicate that the City is enjoying revenues considerably ahead of the same period last year, and also considerably ahead of projections. The City’s Chief Financial Officer Richard LaCondre presented the report tonight showing actual revenues for the quarter a robust $2.7 million ahead of projections, and even further ahead of the numbers for the same period last year.

According to LaCondre, personal property taxes are $502,000 higher than were budgeted for the quarter, sales taxes are $450,000 ahead and $280,000 ahead of last year for the same period, and meals taxes are almost double last year’s for the period at $199,00 compared to $100,000 a year ago. Other taxes are more mixed, but overall show a $100,000 increase over the number projected for the current budget.

Except for legal expenses and debt service, LaCondre reported, expenditures continue to show under-spending below projections for the current year, as well, although some expenses are merely delayed and potential increases in inter-jurisdictional agreement costs and litigation costs are being monitored closely.