A Special Section Saluting Retiring Chamber President Rich Doud
INSIDE
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GOVERNOR TO SPEAK AT COMMITTEE OF 100
CHAMBER SALUTES BEST BUSINESSES
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W-L WINS LIBERTY SOCCER TITLES
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WHERE in the WORLD is MARK MIDDENDORF?
Highs & Lows Letters 55+ News Real Estate Schools/Military Crossword Local History
Right here in Arlington selling houses!
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Now is the time for a market assessment on your house if you are thinking of selling
SunGazette
Mark Middendorf 703.928.3915 mark.middendorf@LNF.com
VOLUME 79 NO. 27
ARLINGTON’S SOURCE FOR HOMETOWN NEWS SINCE 1935
MAY 29, 2014
County Government Is Still Flush with Cash
New Figures Likely to Rekindle Debate Over How Much Is Too Much to Have on Hand SCOTT McCAFFREY Staff Writer
The Arlington County government coffers continue to be flush with cash, with the amount on hand setting a year-over-year record every month since the start of the government’s fiscal year last July.
In April, the various government portfolio accounts held about $360 million, according to figures from the county treasurer’s office. That’s about 20 percent more than a year ago, and more than double the cash and investments on hand five years ago. April generally represents the point in the fiscal year at which financial reserves are at
their lowest, since it has been six months since the last installment of real estate taxes was due. The amount on hand usually grows from April to June, as additional taxes come due, then decline over the summer months before rising once again in the fall. For the current fiscal year, the amount of cash and investments on hand peaked at about
$620 million, an all-time high, in October. For several years, the amount of cash on hand has been at the center of a battle between county staff, who say it’s prudent to have significant reserves, and the state-mandated Arlington Finance Board, whose members have Continued on Page 18
LEADERSHIP ARLINGTON SALUTES YOUNG PROFESSIONALS
Leadership Arlington earlier this month saluted the most recent crop of graduates in its Young Professionals Program. The participants are up-and-coming leaders who spent their training learning about the local community while building interpersonal and leadership skills. See more information and a list of graduates on Page 4.
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