Cincinnati: Better Than Expected, Money-wise
City Manager Milton Dohoney's latest budget update is out. He says that as of the end of February, the city's financial picture was better than forecast. Staff figured on taking in $61.1 million the first two months of 2008, but took in $62.7 instead.
One of the variances was in income taxes, up $458,000 over the expected amounts. The biggest difference: $1.2 million in property taxes. But Dohoney's memo points out the reason is mostly timing, that the county auditor's office advances municipalities their amounts.
An interesting note: the city's up $95,000 over projected admission taxes, which Dohoney attributes to an increase in collections from stage plays in the city.
Click here to read the fine print.