City of Alexandria, VA
Monthly Financial Report for the Period Ending October 31, 2010
Presented as a memo to City Council from City Manager James K. Hartmann on December 14, 2010.
NOTE: Click on the headings below or the "online references" to view more detailed economic, revenue or expenditure data. Click on any highlighted bullet or text to view additional information, including charts and memos.
Year-to-Date Revenues: As of October 31, 2010, actual General Fund revenues totaled $101.1 million, which is 7.7 percent higher than FY 2010 revenues for the same period last year. Most of this increase is related to the early payment of real estate taxes.
Year-to-Date Expenditures: As of October 31, 2010, actual General Fund expenditures totaled $153.4 million, an increase of $4.5 million, or 3.0 percent, above expenditures for the same period last year. Personnel expenditures remain on par with last year. These personnel expenditures are slightly higher than the budget primarily because turnover savings are deducted from the budget on the first day of the fiscal year, while the savings are realized during the year. Also, funds to pay for the implementation of pay adjustments due to the Watson Wyatt Study, which were effective July 1, 2010, are yet to be appropriated in a supplemental appropriation ordinance, now scheduled for December. Non-personnel spending increased 4.8 percent. For most departments, differences in spending patterns for non- personnel this early in the year reflect the timing of bill payments and not necessarily changes in spending patterns. We are closely monitoring and controlling these expenditures to be at or below budget.
ONLINE REFERENCES (ATTACHMENTS):