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The Independent

July 18, 2019

Dublin Budget Shows Increase in Revenues and Expenditures

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Posted: Thursday, April 18, 2019 12:00 am

At its April 2nd meeting, the Dublin City Council was invited to provide direction to city staff on the preliminary budget supplement for 2019-2020. This is the second fiscal year of the city’s biennial budget, originally adopted in May 2018. The final budget adoption is scheduled for May 21. Overall, revenues are projected to increase over the prior year by approximately $2.3 million, while expenditures increase by $944,946 in the General Fund. General Fund reserves are projected to total $143.4 million, an increase of $10.1 million over the prior year.

The major driver of the increased revenue, property tax, has been adjusted upwards to reflect an additional $3 million due to higher than expected growth in assessed values. Sales tax revenue is projected to decrease by 3%, or $664,318. Community Benefit Payments for specific development activity have been reduced by 69%, or $441,000.

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