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Falls Church finance director reports FY24 surplus and ARPA obligations; council asks if year‑end funds should cover sewer costs
Summary
Finance Director Kieran Bawa presented preliminary, unaudited FY24 results showing revenues about $5.3M above budget and strong investment income; council asked staff to consider using year‑end surplus or ARPA funds to address impending sanitary sewer costs and to present scenarios in October.
Finance Director Kieran Bawa presented the city’s preliminary, unaudited fiscal year 2024 year‑end report and highlighted several takeaways: overall revenues exceeded budget by roughly $5.3 million (about 5%), expenditures were under budget, and elevated investment income added to one‑time resources. Key revenue drivers included personal property tax, sales tax and transient occupancy (hotel) tax gains driven by development and new facilities.
Bawa said general fund tax revenues came in about 2% over budget;…
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