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Gahanna finance director reports year-end strength; capital spending and bond-funded projects drive encumbrances
Summary
Finance presented 2025 year-end results: general fund revenue exceeded budget (107%), with income-tax strength and about $44.8M in fund balance (roughly 11 months operating, excluding a one-time CIC expense). Capital spending and encumbrances remain substantial, driven by large bond-funded projects.
Director of Finance Joanne Burry presented the 2025 year-end and capital improvement program (CIP) update to the finance committee, reporting that the general fund finished the year at about 107% of budget with an 8% increase in revenue driven primarily by income-tax receipts.
Burry said general-fund expenditures tracked at roughly 76% of plan (about 89% when encumbrances are included). She reported a year-end general fund balance of approximately $44.8 million, of which about $7.0 million was reserved for encumbrances and $9.1 million was in the emergency reserve; that left about $29.0 million in unreserved fund balance, or roughly 11 months of operating reserves (well above the two-month policy minimum). The finance presentation noted the one-time $5.0 million CIC commitment for Creekside redevelopment as a large, nonrecurring use of funds that affected comparisons.
On the capital side, Burry said the city had about $43.4 million in expenditures across capital projects with substantial encumbrances and noted that large bond-funded projects (cited in the meeting by staff under the 08/25 project identifier) are consuming fund balance as work proceeds. Income-tax projections remain under ongoing review: staff base projections on withholding (the most predictable component), and net-profit volatility and timing of new business activity could affect sustainability over 2026.
Council asked about capacity to execute budgeted projects amid staff turnover and about adjustments to the CIP if execution pace proves unsustainable; administration said recruiting and capacity management are ongoing and that some projects may require schedule adjustments. Burry also clarified that the contract counts cited earlier in procurement discussions reflected purchase-order authorization levels rather than actual dollars spent.
What’s next: Staff will continue quarterly reporting, incorporate strategic-plan reporting items into budget discussions, and return to council with further implementation details as needed.
