I admit I was surprised as I drove on downtown streets that didn't appear to have been cleared at all after the snow fall we had! The streets in my neighborhood just outside of city limits were in MUCH better condition. And I'm curious; what amount would two months of regular General Fund operating expenses be? And what's the justification for hanging on to 50 million? That certainly does sound "excessive"!
These are excellent questions! In the budget presentation given last November, the City Administration expected to have $52.5 million in cash on hand on January 1, 2025. The same report showed that the city expected to spend $61.5 Million. In other words, the city started with about 10.24 months of cash on hand. In fact, for every dollar the city plans on spending in 2025, they already had 85 cents on hand. Of the $52.2 million, some of those dollars are already allocated for projects, such as work for removal of the dam on the Great Miami River, the creation of a new $1 million "River Plaza Park" and $1.5 Million for Crawford Street improvements (which is basically installing a new separated bike path from East Water Street to Herrlinger Park on S. Crawford St.).
I admit I was surprised as I drove on downtown streets that didn't appear to have been cleared at all after the snow fall we had! The streets in my neighborhood just outside of city limits were in MUCH better condition. And I'm curious; what amount would two months of regular General Fund operating expenses be? And what's the justification for hanging on to 50 million? That certainly does sound "excessive"!
These are excellent questions! In the budget presentation given last November, the City Administration expected to have $52.5 million in cash on hand on January 1, 2025. The same report showed that the city expected to spend $61.5 Million. In other words, the city started with about 10.24 months of cash on hand. In fact, for every dollar the city plans on spending in 2025, they already had 85 cents on hand. Of the $52.2 million, some of those dollars are already allocated for projects, such as work for removal of the dam on the Great Miami River, the creation of a new $1 million "River Plaza Park" and $1.5 Million for Crawford Street improvements (which is basically installing a new separated bike path from East Water Street to Herrlinger Park on S. Crawford St.).
So, we're starting the year 9 million short of what we expect to spend. And how much do we expect to take in from taxes in 2025?
The City stated that they expect to bring in $40.7 million in revenues and an additional $1.8 million in grants.
Potentially ending 2025 with roughly 30 million?
Yes - $33.5 million on January 1, 2026.
Some interesting and doable ideas on transparency for communicating public service activities, like snow removal.
Thanks Kent!