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Council accepts second-quarter 2025 financial update; income-tax revenues remain above prior year
Summary
City staff presented the six-month financial report and second-quarter update; staff reported continued income-tax revenue increases year over year, an unencumbered Fund 23 balance relevant to EMS funding, and steady investment yields around 4.45 percent; council approved the financial update by a 6–0 vote.
City staff presented the six‑month financial report and the second‑quarter 2025 financial update, and council voted to approve the update.
Staff highlighted income‑tax revenue as the primary indicator, reporting continued increases compared with the prior year for five of the six months covered and noting a very large January collection driven by business tax receipts. Staff said income tax revenue is approaching the city’s prior threshold amounts and that other revenues (including federal grant drawdowns) have helped offset capital and operational costs. On investments, staff said yields on StarOhio and similar instruments have declined from June’s 5.44 percent to about 4.45 percent, but remain substantially higher than 2020-era rates.
Staff also reiterated points raised earlier in the meeting: the city’s use of grant revenue for water-main projects and the fire station, and the fund balance considerations for fire/EMS funds while implementing the paramedicine amendment. The council moved and seconded a motion to approve the second-quarter financial update; the motion passed on a roll-call vote, 6 to 0.
Council asked no additional substantive questions during the recorded discussion and expressed appreciation for ongoing revenue monitoring.
