Revenues Exceed Targets in July – Oct City of F.C. Financial Performance

A memo from City of Falls Church Chief Financial Officer Richard LaCondre to the F.C. City Council posted on the City’s website today says that in the City general fund’s “actual performance against budget for the first quarter of FY13 (July through October–ed.), key revenue indicators are meeting or exceeding targets.” It cites the following: personal property taxes for the first quarter are $286,000 higher than budgeted and ahead of first quarter FY2012; meals tax is ahead of budget targets for the first quarter and ahead of collections when compared year over year; and, sales tax revenue is running slightly behind current quarter target by 12 percent ahead of this period last year. The F.C. City Council will review the report at its work session this Monday night.