Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Covington posts first‑quarter finances: assessed value up 10.8%, $34.3M in LGIP investments, staff eyes early debt payoff
Summary
Finance staff presented the city’s first‑quarter financial report June 10. Key items: assessed value rose to about $4.7 billion (10.8% increase), the current levy is roughly $3.3 million, the local government investment pool balance was about $34.3 million, and staff said they are evaluating early payoff of debt to save interest.
City finance staff reviewed Covington’s first‑quarter financial results during the June 10 meeting, providing an account of revenues, collections and reserves through March of the fiscal year.
Why this matters: the report updates council on near‑term revenue performance, reserve levels and cash‑management decisions that influence budgeting and capital planning.
Highlights from Casey’s presentation:
- Property tax and assessed value: Through first quarter the city had collected about $123,000 in property taxes; the current levy for 2025 is a little over $3.3 million and the levy rate is about $0.71 per $1,000 of assessed value. The city’s assessed value…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
