Falls Church’s 1st Quarter Financial Report Shows Modest Growth in Revenues

October 21, 2013 10:27 PM5 comments

The first quarter financial report for the City of Falls Church, covering the months of July, August and September, presented to a work session of the Falls Church City Council by Chief Financial Officer Richard LaCondre Monday night, showed growth, but unspectacular growth, in personal property tax, meals tax and sales tax receipts, a reversal of last year’s decline in the categories, but still reflective of only modest growth. Receipts from real property taxes were far too premature to be meaningfully calculated into the report.

Personal property tax revenues were up by 5.88 percent over last year and $262,782 ahead of projections, sales tax was 3.21 percent ahead of last year and $3,201 ahead of projections, and meals tax revenues were up 2.17 percent over last year and $13,717 ahead of projections.

  • Mike Smith

    Let me guess – we should soon be getting another editorial about spending our fund balance?

  • FallsChurchCitizen

    This only reflects a cursory understanding, but it’s amazing that meals and sales tax revenues were up for the July – September period in the midst of sequestration-fueled furlough days for DoD employees during those months. It’ll be interesting to see if the shutdown in early October impacted our revenue base.

    • JFallsChurch

      didn’t the sales tax rate increase in July by 1%…that might explain some of the increase over last year…not sure if this was factored into budget, etc. Not sure if this increase goes into FCC coffers or straight to Richmond

    • David

      Why? Gov’t employees were home and knew (or had a strong inkling in the beginning) that they would receive backpay. More people home in FC means more people at restaurants. And most DoD employees, unlike non-DoD counterparts, were only furloughed for 1 week.

      • FallsChurchCitizen

        Two things: First, the City’s “projections” presumably included the tax increase that took effect on July 1, and the article states that we came in ahead of that. That still surprises me.

        Also, DoD employees’ sequestration furloughs were for 6 days this summer, and they did not receive back pay for those days, nor did other agencies suffering from the sequester. There will be backpay for the shutdown furloughs that began earlier this month.

Facebook Iconfacebook like buttonTwitter Icontwitter follow buttonGoogle+Google+