After nine months, we now expect to end the year with a $9.5 million surplus. The third quarter financial report, released today shows expenses are under budget by $5.6 million dollars; revenue is up by nearly $4 million. The City Charter will require the year end surplus to be carried over to 2016. We are controlling expenses. Revenue can be unpredictable. That’s why we monitor expenses department by department constantly, always careful not to reduce the services taxpayers expect and deserve. Highlights of the 3rd quarter report include: The Police Department is estimated to be $3.05 million under budget due to savings in wages and benefits and health care costs. Planning, Parks, Finance, Human Resources, Public Works and Library are also projected to be under the general fund budget. The Omaha Fire Department remains slightly over budget; less than a half million dollars, ($0.34 million) attributed to wages and costs associated with injuries, resignations and the deaths of active duty firefighters. Property tax and sales tax revenue is up, while restaurant tax revenue is under budget by $1 million. The 2014 projected surplus has grown from $6.1 million at the end of the second quarter to $9.5 million. For three consecutive quarters we have controlled spending and managed the budget. The projected surplus shows my commitment to spending the taxpayer’s money carefully.
Posted on: Thu, 06 Nov 2014 15:26:56 +0000
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