Summary
The First Quarter FY16 QCMR, covering the period ending September 30, 2015, highlights higher-than-expected revenues, primarily driven by increases in Real Estate Transfer Tax, Business Income & Receipts Tax (BIRT), and Sales Tax collections. However, General Fund obligations have also increased due to additional costs related to the Papal visit, as well as rising overtime expenditures in public safety and maintenance costs. The year-end fund balance is projected at $82.2 million, $12.9 million above the Five-Year Plan estimate, but this remains below the City’s long-term financial target. The report notes significant staffing and operational pressures, particularly in public safety and sanitation services, with a 30% increase in EMS response times due to higher call volumes. Additionally, overtime spending in the Police and Fire Departments exceeded budgeted levels by 14.2%, further pressuring expenditures. While revenues are stable, the report cautions that unchecked spending growth—particularly in labor costs—could threaten fiscal sustainability in the coming years.