Financial reports furnished to Delaware City Council in conjunction with the Finance Director’s Report for its meeting on Monday, October 22 largely reflect numbers moving in a positive direction, although they also include an increase in year-to-date expenditures. The reports were furnished by Dean Steltzer, Finance Director.[widgets_on_pages id=1]
In a summary, Steltzer shares the following:
- Income tax collections are up 6.26% compared to last year. The 2018 Budget projected a 5.5% increase.
- Engineering Fee revenue is down $331,618 from the very high 2017 levels. Contracted engineering review expenditures are approximately $below the 2017 amounts at this time. Engineering review fees are paid up front prior to review costs being incurred. The fees charged are set to cover related costs over time.
- Building permits are up $319,978 (59) compared to last year as new housing starts remain high.
- Capacity and Impact Fee revenue related to new housing and commercial development is up $2,485,777 (99%) over 2017 levels.
General Fund revenue year-to-date (as of the end of September) for the City of Delaware stood at $18,533,920. At the same time last year, revenue was at $17,377,346 – a 6.77% increase. Expenses out of the same fund stood at $17,555,525 at the end of September, as compared to $16,022,879 at the close of September 2017. This represents a 9.57% increase in expenditures.
The General Fund ending balance was $5,274,506.
