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Gahanna reports healthy Q2 finances: income tax up, fund balance above policy minimum, encumbrances noted
Summary
At the midyear presentation Aug. 25, finance staff reported general fund revenues at about 56% of budget and a projected increase in fund balance, while encumbrances and capital purchase orders account for a sizable portion of reserved funds; income tax collections were about 10% above 2024 levels.
Gahanna’s finance director presented the city’s second‑quarter financial results to the finance committee Aug. 25, reporting revenues and expenditures near seasonal expectations, a healthy fund balance above policy minimums, and several material encumbrances tied to capital projects.
The nut graf: Finance staff said general fund revenues are about 56% of budget at midyear and expenditures are about 38% of budget (64% when encumbrances are included), leaving an increase to fund balance through Q2. Income tax collections were roughly 10% higher than for the same period in 2024.
Key points from the presentation: - General fund revenue: ~56% of budget…
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