File Photo by Eric Ayres Members of the Finance Committee of Wheeling City Council recently reviewed revenues and expenditures for the month of February, representing a clear financial outlook through two thirds of the current 2025-26 fiscal year. Finances remain stable, with revenues proving slightly stronger than projected in the conservative budget figures.

WHEELING – Finances for the city of Wheeling two-thirds of the way through the current 2025-26 fiscal year remain “very stable,” thanks to revenues that continue to be strong.

Members of the Finance Committee of Wheeling City Council recently met to review the monthly financial report for the most recently completed month showing all of the revenues and expenditures from beginning to end – the month of February.

“The cash balance at the end of the month of February in the general fund was $1,573,000, compared to $1,286,000 the same time last year,” Wheeling City Manager Robert Herron reported to the committee. “The month of February this fiscal year, I would say – from both the revenue and expenditure standpoint – is very stable. Expenditure wise, we’re 66.6% through the year, and expenditures are at 67.1%.”

Although expenditures are slightly ahead of the budget for the fiscal year, revenues are ahead by even more.

“From a revenue perspective, we’re $578,000 ahead of the same time last year – at 69.6% of the budget,” Herron said.

The city’s Budget Stabilization Fund – a rainy day or fiscal safety net fund – also remains well fortified.

“The Budget Stabilization Fund is now $5,562,000,” Herron said, noting that the fund has around $215,000 more than it had at the same time last year. “We did receive some strong property tax revenue the first week in March, which will be reflected in the March financials and will be a true reflection of the third quarter of the fiscal year, which is positive.”

Herron noted that in terms of expenditures, numbers for the Wheeling Fire Department budget were slightly ahead because of veteran employees who entered the Deferred Retirement Option Plan or DROP program – a retirement program administered by the West Virginia Pension Oversight Board.

The program enables firefighters who are eligible for retirement to enter the DROP, which basically freezes their pension for up to a five-year period where it is set aside and they can continue to work in the fire department. At the end of the five-year period when participating firefighters leave the DROP program, they then receive a lump sum payment of five years worth of pension benefits that they would have received had they retired.

“We’ve had a couple of retirements in the fire department which have bumped that number up,” Herron said of the current Wheeling Fire Department expenditures in light of the additions toward the DROP program. “Overall, the personnel expenses within that department are right in line, as is the case with the police department.”

Both revenues and expenditures through the month of February have remained close to the budgeted figures for 2025-26.

“All in all, I would say that this is a very stable month, and thus far, we’re very stable into the fiscal year,” Herron said. “Sales tax has been a strong revenue source for us, particularly this year. And we’re counting on it again next year.”

Members of the Finance Committee of Wheeling City Council accepted the February financial report and also recommended approval of the 2026-27 general fund budget for the city, which was adopted by city council and must be forwarded to the W.Va. Auditor’s Office by the end of this week.

Officials noted that only minor adjustments were made to the 300-page draft of the annual general fund budget for the next fiscal year, which begins July 1. Herron said they scaled back projections for Business and Occupational Tax – or B&O Tax – revenues and increased projections for property tax revenues in light of recent property valuations issued in Ohio County.

“As we go into the fiscal year, we estimate revenues conservatively to begin with,” Herron said.

By backing off projections for the B&O tax revenues, it provides an even more conservative approach, officials explained. As the city progresses through the fiscal year, B&O Tax revenues that are “over and above” the budgeted amount will provide “a little bit of a cushion on the revenue side,” city officials noted

“There was a couple of hundred thousand dollars that we did increase from the updated valuations from the county,” said Wheeling Finance Director Nathan Green.

City council is scheduled to take action to lay the levy rates during its April 14 meeting, and year-end departmental reviews for the current fiscal year will take place June 17-26, which will bring an opportunity for any proposed adjustments to the next fiscal year’s budget.