City Post $3.6M Budget Surplus

The city has posted a $3.6M budget surplus, Rachana Dixit reports for the Daily Progress, a result of spending $4.8M less than planned and taking in $1.2M less than planned. (That’s out of a $126M budget, or a 2.8% overrun.) The city plans to use $2M of that towards capital improvements, with the balance going to a bunch of programs, including $750 bonuses to employees who have been at their jobs for at least a year. (Virginia is doing the same thing—state employees all get a bonus of 3% of their salary this month.) Council will vote on that on Monday. This is the fourth consecutive year of budget surpluses.

The city’s budget is available online, for those who care for the details.

7 Responses to “City Post $3.6M Budget Surplus”

Comments are currently closed.