Virginia Beach releases first ever “popular” financial report

VIRGINIA BEACH — The city has released its first ever “Popular Annual Financial Report” for fiscal year 2017-2018.

The report is a short collection of data that provides summarized information about the city’s financial activities, according to the report. It’s intended to “give readers an overview of the City and its finances,” and is derived from the city’s comprehensive financial report. Below are some of the highlights.

General fund

Most of the city’s revenue, 56 percent, comes from property taxes. The next highest proportion of the city’s revenue was derived from sales, utility, business licenses and other taxes, which comprised 21 percent of the general fund. The state contributed 14 percent of the city’s revenue. For more details on the city’s general fund, check out this graphic from the financial report.

Top 10 employers

  1. City of Virginia Beach/Schools
  2. Naval Station Oceana and Dam Neck Annex
  3. Sentara Healthcare
  4. Joint Expeditionary Base Little Creek – Fort Story
  5. GEICO General Insurance Company
  6. Lynnhaven Mall
  7. Gold Key/PHR Hotels and Resorts
  8. STIHL Inc.
  9. Amerigroup (Anthem)
  10. Navy Exchange Service Command
A graphic depicting city-wide tax revenues for FY 2017-18 (Southside Daily photo/Courtesy of the City of Virginia Beach)
A graphic depicting city-wide tax revenues for FY 2017-18 (Southside Daily photo/Courtesy of the City of Virginia Beach)
The city's long-term liabilities and debts, in millions (Southside Daily photo/Courtesy of the City of Virginia Beach)
The city’s long-term liabilities and debts, in millions (Southside Daily photo/Courtesy of the City of Virginia Beach)

 

 

 

 

 

 

Statistics

Geography:

  • 258.7 square miles of land
  • 51.3 square miles of water

Demographics

  • The city’s population: 456,538
  • Median age of its residents: 36.4
  • Average annual per capita income:  $53,432

By the numbers

Police:

  • Calls for service: 173,602
  • Stations: 4

Fire:

  • Instances: 42,795
  • Stations: 20
  • Fire trucks: 52

Culture + Recreation:

  • Public libraries: 10
  • Rec centers: 7
  • City-owned golf courses: 5

Public Works:

  • Street lights: 49,342
  • Miles of street: 5,636
  • Waste collection trucks: 84
  • Tons of garbage collected: 171,315

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