Radford leaders say general fund behind schedule; utilities rates, advertising deadlines discussed

Interim City Manager Craig Meadows told the Radford City Council on March 17 that the city’s general fund is running a year‑to‑date deficit and that the council must decide quickly whether to raise utility or tax rates to shore up reserves.

Meadows said revenues through February totaled a little over $21,000,000 while expenditures for the same eight months were about $22,000,007.50, leaving a roughly $1,650,000 shortfall; he also noted that the city has a $3,959,000 revenue anticipation note (RAN) and that, overall, “the general fund really is trending down about 5,600,000.0, year to date through February.”

Those shortfalls have driven the council discussion about potential revenue actions and timing. Meadows outlined the city’s four main funds and recommended the council first verify that all collected revenues have been posted in the city’s accounting system before adopting further changes.

City finance and utility figures presented by Meadows:

- General fund: Revenues through February just over $21 million; expenditures about $22,000,007.50; shortfall of roughly $1.65 million. The presentation did not reflect the removal of a $941,000 item the council approved at a prior meeting. Meadows said quarterly receipts expected in March and June may reduce the gap but will not eliminate it on their own.

- Revenue anticipation note (RAN): Approximately $3,959,000 included in general‑fund revenues.

- Water and wastewater fund: Revenues about $4.1 million and expenses about $3.8 million through February (net about $300,000).…