Finance
About the Finance Department
The Finance Department is responsible for the receipt and disbursement of public monies received by the City of Worthington.
As part of the City of Worthington's commitment to transparency and open government, the City makes financial reports, annual budget documents, and presentations available online for public review. Residents are encouraged to review the information to more fully understand the financial health of the city, as well as the key objectives and goals behind the City's budget decisions.
2023 Budget
Worthington City Council is considering the 2023 Operating and Capital Improvements Program budgets.
- See Budget details and documents, view videos about the budget process, and try the Balancing Act Budget Simulation Tool
- View the City's financial documents, including current & past annual budgets and monthly financial and income tax reports.
- View the 2021 General Fund Comprehensive Annual Financial Report for a more detailed overview of the City’s finances.
Honors and Recognition
Excellence Awards
Certificate of Achievement for Excellence in Financial Reporting (Received March 2023)
For the fifth year in a row, the City of Worthington has been awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association for its 2021 Annual Comprehensive Financial Report. The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting and its attainment represents a significant accomplishment by a government and its management.
The report has been judged by an impartial panel to meet the high standards of the program, which includes demonstrating a constructive "spirit of full disclosure" to clearly communicate its financial story and motivate stakeholders to read the report.
Distinguished Budget Presentation Award (2022)
The Government Finance Officers Association has awarded the City of Worthington the Distinguished Budget Presentation Award for the 2022 Operating Budget. The award reflects the commitment of the City of Worthington to meeting the highest principles of governmental budgeting. In order to receive the budget award, the City had to satisfy nationally recognized guidelines for effective budget presentation. These guidelines are designed to assess how well an entity's budget serves as:
- a policy document
- a financial plan
- an operations guide
- a communications device
City of Worthington Recognized with Financial State Award of Distinction
The City of Worthington was recognized by Auditor of State Keith Farber with the Auditor of State Award with Distinction for its clean audit report and exemplary financial record keeping.
“This award recognizes the hard work of fiscal offices to keep clean, accurate records,” said Auditor Faber. “Their efforts go a long way toward making Ohio more efficient, effective, and transparent.”
The Auditor’s Office presents the Auditor of State Award with Distinction to local governments and school districts upon the completion of a financial audit. Entities that receive the award meet criteria of a “clean” audit report.
City of Worthington Achieves Highest Possible AAA Bond Rating
The City of Worthington has been awarded a AAA Bond Rating by S&P Global Ratings, citing the City’s very strong financial management and stability. AAA is the highest bond rating a municipality can receive, with just a small percentage of cities achieving the highest score.
Taxes
Worthington tax is administered by the Regional Income Tax Agency (RITA). All residents are required to file an annual city income tax return. The current income tax rate is 2.5%. Questions about income taxes should be directed to RITA at (866) 721-7482. Learn about filing your taxes online.
View the Resident's Guide to Understanding Taxes here.