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Richmond council presses administration over $12.6M surplus and $10M property‑tax difference
Summary
Council members pressed city leaders for a line‑by‑line breakdown after CAO O'Donnell and auditors said an interim estimate of a $22M surplus later became a $12.6M audited figure; members also sought reconciliation between the CAFR's $595.8M property‑tax figure and the budget book's $584.5M.
Council Member Gibson pressed city leadership for documentation explaining how the administration arrived at a final audited surplus figure of $12,600,000 and a roughly $10,000,000 difference between the city budget's FY25 property‑tax actual and the ACFR number.
"I was wondering if that, that type of calculation is something that can be included as part of the documentation," Gibson said, asking the administration for a full breakdown tied to city code showing how the surplus was…
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