City of Alexandria, Virginia
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MEMORANDUM
DATE: APRIL 9, 2026
TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL
THROUGH: JAMES F. PARAJON, CITY MANAGER
FROM: KEVIN C. GREENLIEF, DIRECTOR OF FINANCE
DOCKET TITLE:
TITLE
Consideration of the Monthly Financial Report for the Period Ending February 28, 2026.
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ISSUE: Receipt of the Monthly Financial Report for the Period Ending February 28, 2026.
RECOMMENDATION: That City Council receives the Monthly Financial Report.
BACKGROUND: The following discussion is a summary of the Monthly Financial Report for this period. Detailed comparative schedules are attached.
As of February 28, 2026, General Fund revenues totaled $538.7 million, an increase of $6.0 million, or 1.1 percent, compared to the same period in FY 2025.
Revenue may not track consistently with a monthly calendar since many revenue sources have due dates that do not occur evenly throughout the year. The City’s largest revenue source, the Real Estate tax, is remitted twice per year, in November and June. Through February, we are on target for Real Estate collections. Personal Property continues to lag through February as previously reported. Revenue from Use of Money and Property reflects a decrease of -14.9% compared to the prior year due to interest rate reductions by the Federal Reserve. The reduction was anticipated in the FY 2026 budget.
Other than Consumption Taxes, most other revenue categories are tracking generally as anticipated compared to the amount budgeted. Utility taxes, Permit Fees, and Charges for Services are trending ahead, balanced against declines in Recordation taxes and Fines. Based on the March 1 due date for Business License taxes, approximately 80% of returns have been processed thus far, with the revenue trending flat with the prior year consistent with the projected decrease from the FY 2026 Approved Budget at the time of the fall Council retreat.
Consumption taxes continue to be trending negatively as the combined growth rate has flattened. Year-to-date receipts through February show a cumulative growth rate of -2.02% thus far for the Meals Tax, Transient Lodging Taxes, and Local Sales Tax (Attachment 3).
As of February 28, 2026, General Fund expenditures totaled $743.8 million, an increase of 10.1%, but this is principally due to the timing difference in debt service payments in FY 2026 compared to the prior year and initial expenses from the January snow and ice emergency.
ATTACHMENTS:
Attachment 1: Comparative Statement of General Fund Revenues
Attachment 2: Comparative Statement of General Fund Expenditures
Attachment 3: Comparative Consumption Spending
STAFF:
Morgan Routt, Director, Office and Management and Budget