Omaha wrapped-up 2013 with a surplus of $11 million. That’s according to a news release from the mayor’s office outlining the final 2013 City of Omaha budget report.
Mayor Jean Stothert is quoted as saying, “The taxpayers expect us to spend their money carefully. This surplus shows we can operate more efficiently and still provide excellent customer service.”
As required by the City Charter, the surplus is included in the mayor’s recommended 2015 budget proposal now pending before the City Council.
The 2013 budget report shows revenues increased $1,734,762 over projections. Expenses came in under budget by $9,366,977.
Finance Director Steve Curtiss is quoted in a news release as saying, “The surplus helps us achieve our budget goals for 2015, pay down our debt, increase the case reserve to an historic high and return money to taxpayers with the modest property tax cut.”
The mayor’s office lists key points in the report that include sales tax revenue $1.1 million under budget, the Omaha Police Department $5.3 million under budget, the Omaha Fire Department $1.3 million over budget and a collective $1.3 million under-budget performance from the Mayor’s Office, City Clerk, City Council Law, HR, Human Rights and Relations, Finance, Planning, Public Works and Parks and Recreation Department.
In addition to the 2013 numbers, the Finance Department has also completed the First Quarter report for 2014 showing similar numbers with revenues up and expenses down.
In the first three months of the year, revenue was up $2.3 million. Expenses were under budget by $2.7 million. The Fire Department is $0.9 million over budget largely due to Injured on Duty pay and sick time.
Base on first quarter numbers the Finance Department is projecting a 2014 budget surplus of $5,095,256.