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Monday, March 17, 2008

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.


19 Comments:

at 6:23 PM, March 17, 2008 Anonymous Anonymous said...

What about the $2 million deficit the city faces because they didn't budget enough for snow removal?

 
at 7:56 PM, March 17, 2008 Blogger usefullidiot said...

Will the pools stay open this summer?

 
at 8:43 PM, March 17, 2008 Anonymous Anonymous said...

Forget about the pools. Dohoney's already crying about the snow removal bill.

In addition, the freeloader flop houses always have their ear to the rail for any whisper about extra money floating around City Hall. They'll be lined up with other "Social Service Agencies" looking for wage increases.

 
at 9:25 PM, March 17, 2008 Anonymous Anonymous said...

Will the Freedom Center stay open this summer?

 
at 9:58 PM, March 17, 2008 Anonymous Anonymous said...

This guy can't make up his mind. A couple weeks ago he "found" $800,000 to do another streetcar study. Last week the city was in trouble because the snow budget went over, this after a winter with a whopping one major snowfall. This week things are better than expected again. I see the city of Cincinnati is experiencing it's typical brilliant management.

 
at 10:27 PM, March 17, 2008 Anonymous Anonymous said...

Will the retirement fund be underfunded again this year?

 
at 10:51 PM, March 17, 2008 Anonymous Anonymous said...

The taxed burdened property owner comes thru again.

 
at 11:59 PM, March 17, 2008 Anonymous Anonymous said...

A positive variance means that more money came in than expected in tax revenues. A deficit means that the budget exceeds revenues, and in a city, that means they have to dip into their savings. A positive variance therefore DOES NOT mean that there is no deficit, it just means that there is potential for a slightly smaller deficit.

(Also, as far as I know, only Council has the authority to determine where the money from the positive variance goes, not the City Manager, so it's not like Dohoney can just decide to throw that money into snow removal or pools)

 
at 12:04 AM, March 18, 2008 Anonymous Anonymous said...

Hey, let's not blog about things like Obama's minister, Clinton's gutter politics, the imploding economy courtesy of the Republican Party's "conservatives" or the 41 people killed in Iraq and whether or not the surge worked....
None of these topics would promote debate and commentary worthy of a political blog

 
at 12:55 AM, March 18, 2008 Anonymous Anonymous said...

the city never gets 9 inches of snow in march, it isnt' the fault of the city that they didn't budget for that removal

 
at 6:52 AM, March 18, 2008 Anonymous Anonymous said...

How is police overtime spending?

 
at 10:48 AM, March 18, 2008 Anonymous Anonymous said...

A. Show of hands for everyone who would have ripped Dohoney for wasting money on salt if we had a surplus in the snow removal account. I think I read that pretty much EVERY jurisdiction in this area is over budget on snow removal, we had a freakish amount of snow this winter.

B. Every month the city gets reports on how much tax revenue it is collecting compared to what it's projection was. It looks like this month, the projection was low. Some extra cash flow. Yay. Wow we blog responders are amazing at turning good news into horrible news.

C. "Finding" money for the streetcar study is very different than having more monthly tax revenue than expected. Council instructed him to find the money, so he had to. He probably did it by cutting funding from a bunch of accounts: a little here, a little there.

D. The guy who wrote earlier and said that having more monthly revenue than projected is NOT THE SAME THING AS ELIMINATING A DEFICIT is correct.

 
at 11:05 AM, March 18, 2008 Anonymous Anonymous said...

Use it to buy more stuff like red light cameras to make people not want to come to the city, not that the apparently higher taxes don't already do that. Hey, do the Mallorys sell red light cameras? Maybe they "know" someone who does.

 
at 11:21 AM, March 18, 2008 Anonymous Anonymous said...

EXCELLENT!

We can expand the study of the trolleys!

 
at 11:32 AM, March 18, 2008 Anonymous Anonymous said...

USE IT TO SHORE UP RESERVES.

 
at 12:13 PM, March 18, 2008 Anonymous Corey said...

To 12:05 Anonymous (aren't they all)
You have different blogs about different stuff, if you really don't think those topics have been run into the ground, I'll give you summary:
-Obama's Minister:
Some people will say, "Hey, he doesn't talk like my white friends, he's scary!!" (they will ignore all the white ministers who blamed 9/11 on the gays)
Three people will say, "Minister? Isn't he Muslim?" (They got the memo Hillary sent out about him being Muslim and still can't let it go)
A few people will agree with him, but think he could express his views without yelling.

-Imploding Economy, yeah, typing in a blog's going to fix that. Anyone with half a brain could have seen this coming a mile away. I have $10 in the bank, but have watched enough "Flip This House" episodes to figure out that was a pyramid scheme that was going to collapse.

You'll have a hand full of people begging to be saved from the mortgage crisis, followed by another group that says, "Screw them, they get what they deserve! I don't want my hard earned more going to bail out someone who borrowed more than they can afford."...Sadly, those people don't realize that if a bunch of homes are in forcloser, it makes their home worth less.

Also, you have Republicans that want to borrow us to death, Democrats that want to tax us to death. I say we go for taxed to death. Don't buy what you can't afford!

-41 people died in Iraq, I could think of something snarky to say, but that would be rude. It is a Cincinnati blog...keep it local? Also, that do WE really know about what life is like in Iraq? Did you see a compelling image on your hi-def flat screen TV?

-The surge...my friend had to go back for the surge, he's been to Iraq a lot lately. Doesn't seem to care for it.

Let's focus on Cincinnati, a place were we can actually make a difference and change peoples lives. If you always focus of the bigger picture, you'll always find something that pisses you off that you can't change.
Don't do that to yourself.

 
at 12:23 PM, March 18, 2008 Anonymous Anonymous said...

Corey-

Best post ever.

 
at 12:47 PM, March 18, 2008 Anonymous Anonymous said...

Nah, let's keep it hostile. No one has screamed in italics in this whole blog yet. Why should the voice of reason be heard here?

 
at 7:03 PM, March 18, 2008 Anonymous Anonymous said...

As soon as one of the armed guards at City Hall kills some stupid idiot, the surplus will be gone to settle the lawsuit.
Adios dinero!

 
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