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Comptroller reports lower August cash balance and projected winter cash shortfall; city cites $5.5M health-care savings from unfilled positions
Summary
Deputy Controller told the Committee on Finance on Oct. 7 that the city ended August 2025 with about $83.2 million in cash—$19 million below the prior year—and projected cash-flow deficits from December 2025 through May 2026 that will include a $31.6 million debt-service payment in December.
The Committee on Finance received two related finance briefings on Oct. 7, 2025: the August 2025 cash-flow report from the Deputy Controller and a July cash-flow / budget follow-up that included details about unfilled positions and related health insurance savings.
Deputy Controller Delaney O'Dowdell told the committee the city began August 2025 with $87,000,774 in cash, received $43,760 during the month and disbursed about $48,358,000, leaving an ending cash balance of roughly $83,176,000. She noted the August 2025 ending balance was about $19 million lower than the August 2024 balance of approximately $102 million.
O'Dowdell provided highlights of recurring revenues and expenses: August sales-tax receipts were reported at $9.4 million (about $500,000 higher than August 2024); property-tax receipts for August 2025 were about $19.6 million (noted as a decline compared with August 2024 levels); year-to-date property-tax collections were at about 53% of budgeted property-tax revenue. Interest and prescription rebate receipts remained below budget.
The Deputy Controller told the committee the city will make a $31.6 million debt-service payment in December 2025 and that cash flow was projected to be negative from December 2025 through May 2026, peaking at a projected negative $76.5 million in May before turning positive in June 2026 when receipts are expected to recover.
Committee members also revisited a July cash-flow and staffing briefing. Raymond Nosworthy, Commissioner of Administration and Finance, told the committee a budget document listed about $16.5 million of salary funding held as attrition (unfunded positions, approximately 250 titles). Using an estimated average employer health-insurance cost of approximately $23,000 per filled position, Nosworthy calculated roughly $5.5 million in health-insurance savings associated with not funding those positions in the adopted budget.
Council members asked for the supporting spreadsheet and titles. Nosworthy said the spreadsheet is available (item 25-616 in the budget backup) and that the figure includes vacancies in multiple departments, including the Police and Fire departments. He described the positions list as a point-in-time snapshot and said the numbers could change.
The chair closed discussion and the item was tabled for future review; staff indicated they will provide requested back-up material on position titles and the attrition spreadsheet.
The committee flagged the December debt service payment and the projected winter cash shortfall as items that will be monitored in upcoming budget and oversight hearings.
