In her unaudited fourth quarter report for Fiscal Year 2018 that concluded on June 30 presented to the Falls Church City Council Monday, F.C. Director of Finance Kiran Bawa reported a actual-over-budgeted FY18 net increase in revenues of $762,183, including a net $562,936 increase in revenue and a $199,247 decrease in expenditures. The big increases were in personal property tax revenues up 7 percent, and other local taxes (meals, sales and BPOL taxes), up 3.5 percent.
Bawa noted the showings in the meals and sales taxes in the fourth quarter (March through June) were especially strong. The surplus has augmented the City’s unassigned fund balance.