City of Alexandria, Virginia
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MEMORANDUM
DATE: MAY 6, 2025
TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL
THROUGH: JAMES F. PARAJON, CITY MANAGER
FROM: KEVIN C. GREENLIEF, DIRECTOR OF FINANCE
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Consideration of the Monthly Financial Report for the Period Ending March 31, 2025.
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ISSUE: Receipt of the Monthly Financial Report for the Period Ending March 31, 2025.
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 March 31, 2025, General Fund revenues totaled $566.8 million, an increase of $30.9 million, or 5.8 percent, compared to the same period in FY 2024. There are no significant variations in receipts through the midpoint of the fiscal year other than those related to the timing of billing cycles, posting and accruals. It is important to note that several revenue categories lag by one or two months. 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, Real Estate tax, is remitted twice per year and aligns closely with revenue from the same period in FY 2024. Real Estate tax revenue was due to the City on November 15. Through March 31, 2025, the City has collected $269.9 million or 49.5 percent of the budgeted amount. This is comparable to FY 2024 when the City had collected $260.5 million as of March 31, 2024, or 49.0 percent of the budgeted amount. Personal Property tax revenue, including Business Personal Property, remains strong in FY 2025. The $73.7 million collected in the first nine months of the fiscal year reflects 97.6 percent of the budgeted amount compared to collections of $67.4 million during the same period in FY 2024. Business...
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