The Commonwealth’s Auditor of Public Accounts (APA) notified city officials in a letter dated last Friday, January 26 (attached), that Richmond “does not appear to be in a situation of fiscal distress that would warrant further assistance or intervention from the Commonwealth,” as the APA’s preliminary determination indicated in August of last year.   Richmond’s Director of Finance, John Wack, provided members of city council with the attached intracity memorandum, explaining how the APA’s Financial Assessment Model (FAM) prematurely identified potential financial distress indicators last August. The city’s financial advisors, Davenport & Company, also determined the FAM criteria previously used were too limited in scope and substance, did not take into account Richmond’s demographics, economic development, strength of management nor the city’s debt practices and reasons for debt.   The APA has now set the record straight.   “I am pleased the APA has obtained a ...


Mayor Levar M. Stoney delivered his 2018 State of the City Address Tuesday, January 23 at Martin Luther King, Jr. Middle School. The mayor reviewed the administration's significant accomplishments in 2017 and reported the state of the city is "strong." Included in his remarks was the announcement of initiatives to fund school construction and address challenges in our public housing communities. 
 The mayor's State of the City Address as prepared can be found  here . 


The Insurance Services Office (ISO) has reclassified the City of Richmond Department of Fire and Emergency Services as an ISO Class 1, their highest awarded classification. Of the nearly 45,000 Public Fire Protection Districts in the United States, only 270 are ISO Class 1 and only 7 are located in Virginia. This puts the Richmond Fire Department in the top 1% for fire protection in the nation.  ISO collects and evaluates information on municipal fire-protection efforts in communities throughout the United States. ISO then assigns a Public Protection Classification from 1 to 10. Class 1 represents superior property fire protection, and Class 10 does not meet the minimum requirements of protection.  ISO evaluates a community’s (1) Fire Protection, (2) Emergency Communications Center, (3) Municipal Water Supply System, and (4) Community Risk Reduction Efforts.  Benefits to the Community: A community’s investment in fire protection is a proven and reliable predictor of...


A presentation by the City’s financial advisors, Davenport & Company, at the December 11 Education Compact meeting indicated the city has approximately $66 million in debt capacity through FY2023 for City and Schools projects. A new funding source for Schools facilities is needed in order to increase debt capacity while not negatively impacting core city services and operations. This afternoon, Mayor Levar Stoney introduced an ordinance increasing the meals tax 1.5% with the intent of making additional funds available for the renovation and replacement of public school facilities in the city. This increase would generate an initial $9.1 million in new funding per year, which would allow the city to expand the current debt capacity and provide $150 million dollars in new capital funding over the next five years, dedicated to Richmond Public Schools. The Mayor is proposing these funds be placed in a special reserve, only available to fund school facilities. Richmond’s strong credit...


 Richmond Gas Works customers will see an increase of the purchased gas cost (PGC) in their February 2018 utility bills.  The cost for purchased gas will increase from $0.450 per 100 cubic feet (1 Ccf) used to $0.525.   The average customer who uses 70 Ccf’s of natural gas will see an estimated $5.25 increase in their monthly bill.  By law, Richmond Gas Works passes on the cost of natural gas purchased and delivered to customers, dollar for dollar, without any markup. Other components of the natural gas bill – the distribution charge and customer charge – are unchanged.        

 At the time of this release, Richmond Gas Works’ PGC rate is less than or equal to surrounding natural gas franchises. Richmond Gas Works’ Interim Director, Rosemary Green, attributes the increase to demand, “An extended cold snap along the east coast and greater demand in the natural gas market is responsible for this increase,” says Green.   ...

Richmond City Council today during its scheduled special meeting appointed Mr. Lou Lassiter as its new City Auditor to head the Richmond City Council Office of the City Auditor. His service is to begin February 1, 2018. In that position, Mr. Lassiter will assist Council in helping to ensure the administration, management, integrity, efficiency, and effectiveness of city government expenditures on behalf of Richmond residents.   Duties of the City Auditor include administering internal audit and investigation functions in verifying accountability over City resources; evaluating efficiencies and effectiveness of City operations; and, determining compliance with laws, regulations, and policies. The position provides management and oversight of Richmond City Council Office of the City Auditor   staff and other resources necessary in auditing evaluating, and investigating city departments, offices, boards, etc. and other individual or entity expenditures of city-funded mo...

The city’s Finance Information Services Team today announced the implementation of a new Electronic Content Management Software, Onbase by Hyland. This new software will be integrated with existing City of Richmond software tools to create an intelligent business workflow management platform. Over the next several months the system will be implemented with both the Accounts Payables and Revenue Administration groups. The implementation of this technology will allow for expedited invoice processing to vendors as well as interactive tools for our constituents to track tax information and payments.  “This project represents a commitment by the City of Richmond to meet the goals set forth by Mayor Stoney’s Richmond 300 plan by working to open all lines of communication and data transfer between all city departments and the people of the city,”  said Mimi Terry, Deputy Director/Controller and Acting Director of Procurement. For questions and more information, co...