City of Alexandria, Virginia
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MEMORANDUM
DATE: JUNE 5, 2013
TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL
FROM: RASHAD M. YOUNG, CITY MANAGER /s/
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Consideration of the Monthly Financial Report for the Period Ending April 30, 2013.
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ISSUE: Receipt of the City's Monthly Financial Report for the period ending April 30, 2013.
RECOMMENDATION: That City Council receive the following Monthly Financial Report for the period ending April 30, 2013.
DISCUSSION: This report includes highlights of the City's financial condition and provides fiscal year (FY) 2013 financial information on revenues and expenditures of the General Fund for the period ending April 30, 2013. Detailed economic, revenue, and expenditure charts (Attachments 1-3) are also available from the City's website at alexandriava.gov/FinancialReports.
ECONOMIC HIGHLIGHTS:
* Employment data continue to show signs of improvement. The national unemployment rate (seasonally adjusted) decreased to 7.5 percent in April, the lowest rate since December 2008. The Virginia unemployment rate (seasonally adjusted) decreased to 5.2 percent in April, the lowest rate since September 2008. The City unemployment rate (not seasonally adjusted) decreased to 4.0 percent in March. According to Virginia Employment Commission data, the number of unemployed persons in the City was down 14.2 percent year-over-year and the number of employed persons was up 1.1 percent year-over-year from March 2012. Fiscal year-to-date, the average number of persons employed in the City was 0.9 percent higher than in FY 2012, while the average number of unemployed persons was 10.2 percent lower. This compares to a 2.5 percent increase in the average number of employed persons and a 2.4 percent increase in the average number of unemployed persons for the same period in FY 2012. Altogether, the Ci...
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