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Finance projects revenue above budget, flags personnel and overtime costs; committee approves airport CFC bonds
Summary
City finance reported third-quarter projections showing operating revenues above budget and described cost drivers in personnel and contracts; the committee approved an ordinance to issue up to $310 million in customer facility charge bonds for airport rental-car projects.
Mohammed Bala (recorded in the meeting as CFO Bala) and Yolanda Carr, deputy CFO, presented the third-quarter fiscal-year 2025 revenue and expense projections to the Finance Executive Committee and said the office has baked April and May data into the outlook.
Carr said the FY25 total budget is $889.6 million (including committed and uncommitted fund balances) and that operating revenue excluding fund transfers is $853.8 million. "Our projections for the remaining 2 months are around $999,000,000, which leads us to a year forecast in in of 960,100,000.0," Carr said, describing a year-end revenue forecast that would exceed the operating budget by roughly $106.3 million.
Carr and Sean Gabriel, budget chief, identified the strongest revenue performers: property taxes (projected ahead of budget by $12.3 million due to higher assessments in Fulton…
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