Hilliard is on track to increase its cash reserve this year, according to city officials.
Finance Director David Delande provided a first-quarter fiscal review of the city at the April 28 meeting of the finance and administration committee.
"Overall, it is favorable," Delande said. "We will monitor the second quarter and should come in as budgeted or below budget."
Through March 31, the city's general-fund revenue is almost $5.9 million, or 27.5 percent of the estimated $21.4 million city officials expect to collect in 2014.
"You want to be at least 25 percent for the first quarter," Delande said.
The city also is well ahead of its estimate for interest earnings, collecting almost 50 percent of the estimated amount for 2014 in the first quarter.
The city estimated interest earnings of $33,000 for 2014 and collected $16,240, or 49.2 percent of the estimated amount, through March 31.
Last year, Hilliard had interest earnings of $32,586.
On the expenditures side of the ledger, the city is under budget for the first quarter of the year.
The city recorded expenditures of $5 million for the first quarter of 2014, or 23.4 percent of the estimated expenses of $21.4 million.
Delande said city officials try to be at or below 25 percent for expenditures in the first quarter.
By category, the city is below budget for each general-fund expense except services, which were $1.45 million, or 29 percent of the estimated $5 million for 2014.
Delande said the amount is above the first-quarter estimate because the city paid the full annual cost for police dispatching in the first quarter and the category should balance by year's end.
For the first quarter of 2014, the city's revenue over expenditures -- the amount the city added to its cash reserve -- is $505,863.
The city's cash reserve is $2.6 million as of March 31.
The $2.6 million does not include an additional $5.3 million in cash the city has set aside in a reserve fund. The administration's goal is to allocate an amount equal to 25 percent of the general-fund operating expenses into the separate reserve fund.