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HomeMy WebLinkAboutA008 - Motion accepting Fiscal Year 2025/26 Third Quarter Financial ReportITEM #:13 DEPT:FIN April 14, 2026 Staff Report FISCAL YEAR 2025/26 THIRD QUARTER FINANCIAL REPORT BACKGROUND: Governmental accounting best practices emphasize the importance of timely and periodic financial reviews throughout the fiscal year. The Government Finance Officers Association (GFOA) specifically recommends that governments conduct interim reviews to ensure data accuracy, identify variances as they occur, and give decision-makers the information they need to respond promptly to emerging trends. Established quarterly reporting aligns the City's financial practices with GFOA guidance, strengthening transparency, and enhancing oversight of the City’s finances. Quarterly reporting also supports more effective budget monitoring by enabling the City to evaluate revenues and expenditures as they occur rather than waiting until year-end. This proactive approach ensures that unexpected changes can be addressed in time to protect service delivery. It also provides comparative and trend data, which are essential for evaluating financial performance, understanding the causes of variances, and supporting informed decision-making by elected officials. Regular reporting not only improves financial management but also promotes accountability and transparency. In keeping with these best practices, the Finance Department has prepared the City’s FY 2025/26 Quarter 3 financial report as of March 31, 2026, which is attached for the City Council's review. The report provides fund balances, revenues, and expenditures for FY 2025/26 through the end of the third quarter, along with comparative information from the prior fiscal year. The quarterly report will serve two purposes: it will offer the City Council a clear picture of the City’s financial position during the year, and it will function as an internal monitoring tool for the Finance Department to identify inaccuracies, anomalies, and unanticipated changes in financial activity. OPTIONS: Should the City Council desire additional or more detailed information, staff should be directed to include that information in a future report. STAFF COMMENTS: The Finance Department has made quarterly reporting a standard practice. Reports will be provided after each quarter of the fiscal year, with accompanying analysis to highlight major findings and explain significant variances. This practice demonstrates the City's commitment to sound financial management, transparency, and adherence to GFOA’s recognized best practices in governmental finance. 1 ATTACHMENT(S): 2025-26 Quarter 3 Financial Report.pdf 2 City of Ames, Iowa Fiscal Year 2025/26 Quarter 3 Financial Report 3 FY 2025/26 Quarterly Financial Summary Period Ending March 31, 2026 Introduction The following reports summarize the City’s fund balances, revenues, and expenditures for the third quarter of FY 2025/26. Fund Balances The “Fund Balance at 6/30/25” amounts for each fund (the first column in the fund balance report) are now final since the audit for FY 2024/25 is now complete. Other explanations for the “Fund Balance at 6/30/25” column: - Many of the funds with negative balances at the beginning of the year are construction or grant funds with expenditures in FY 2024/25 for which reimbursement was not received by the end of the fiscal year. These funds include Public Safety Donations and Grants, the CDBG Program, Parks and Recreation Grants, Street Construction, Sewer Improvements, and Stormwater Improvements. It is common for expenditures and reimbursements in these types of funds to cross fiscal years and the reimbursements will be received in FY 2025/26. - The Special Assessments fund traditionally has a negative beginning balance. When assessments are created to cover the cost of debt issuance, the principal and interest payments for the debt begin immediately. The assessment revenue received to cover the cost of the debt, however, is collected over time. The fund’s negative balance will be resolved over time as the assessments are collected. The Adjusted Ending Balance amounts in the far right column have been updated to reflect the FY 2025/26 adjusted revenues and expenditures that were approved on February 10, 2026. The Quarter 3 Ending Balances are now being compared to these adjusted ending balances. Explanations and comments for the “Quarter 3 Ending Balance” column: - Many of the funds with negative or very small balances (CDBG Program, HOME Program, Street Construction, Airport Improvements, Water Construction, Sewer Improvements, and Stormwater Improvements) are funds where the revenue is received on a reimbursement basis after the expenditures have been incurred. The negative balances are normal and will be resolved when the reimbursements are received. - The Special Assessments fund will continue to be negative until the assessments have been collected through property taxes. 4 -The New Animal Shelter Donations fund has a balance of $2,514,341 at the end of the third quarter as donations have been received, but construction of the new shelter has not started. The adopted balance of zero was assuming that all donations received would be expended by the end of FY 2025/26. -Many funds have higher balances at the end of the third quarter compared to their projected balances at the end of the fiscal year (Local Option Sales, Tax, Road Use Tax, Council Priorities Capital Fund, and G.O. Bonds, for example). These funds all contain funding for capital improvement projects, and the timing of the expenditures is dependent on the project schedules. -The Indoor Aquatic Center Donations fund is showing a negative balance at the end of Quarter 3 because some of the expenditures allocated to the Donations fund need to be transferred to bond or grant funding. The overall project has sufficient funding for the completion of the project. -Sinking funds (Water, Sewer, and Electric) have higher balances at the end of the third quarter compared to their projected ending balances because principal payments in these funds are not scheduled until June 1. -The Parking Operations fund continues to be monitored as its revenues have not been covering its expenditures for several years. At the end of the third quarter, revenues are at 74.2% and expenditures are at 70.5% of their projected amounts. Revenues exceeded expenditures at the end of the third quarter, and the fund balance is at 99.7% of the projected balance for the end of the year. The better performance in the Parking Operations fund is largely due to past parking fines being collected through the new set off program, which has already collected $30,000 in unpaid fines. This fund will continue to be monitored to make sure that this positive trend continues for the remainder of the fiscal year. -The Transit Operations fund balance is lower than the fund’s projected balance because much of its operational funding is from federal and state grants which are received on a reimbursement basis. -The Fleet Services fund currently has a negative balance because fleet charges to City departments are always done after the end of the period. The negative balance will be resolved by the end of the fiscal year. -The Information Technology fund shows a negative fund balance of $97,027 at the end of the third quarter. Many of the fund’s expenditures are paid once a year, but the department allocations are received quarterly. The negative fund balance will be resolved by the end of the fiscal year. -The Shared Communications fund, which accounts for the revenues and expenses of the MAPSG system funded through the City, Iowa State University, Story County, and the E911 system shows negative a negative balance of $40,834 at the end of the third quarter. The fund is in a negative balance because the participating agencies are only billed to cover the fund’s expenditures at the end of each calendar year. 5 Revenues The FY 2025/26 Adjusted budget for revenues has been updated to reflect the adjustments approved by the City Council on February 10, 2026. Overall revenues on 3/31/26 were at 55.9% of the adopted amount for FY 2025/26. While it might seem that revenues should be at 75% at the end of the third quarter, it should be noted that many revenues are received at the end of periods, such as utility billings, Local Option Sales Tax, and Road Use Tax. Other items to note in the revenues: - Revenue has been received in several grant and donation funds that was not included in the adjusted budget or was included at a lower amount. These revenue budgets will be revised in the FY 2025/26 final amendments and include Police Forfeiture, Parks and Recreation Donations, and Utility Assistance (Project Share). - Many funds with revenues that are primarily grants (CDBG, HOME, Parks and Recreation Grants, Street Construction, Airport Improvements, Water Construction, Sewer Improvements, and Stormwater Improvements) have received a low percentage of their revenue. This is normal since the revenue is received on a reimbursement basis and is received when the reimbursement requests are submitted as expenses are incurred. - Some funds have transfers from other funds as one of their major revenue sources. This causes their year-to-date revenue to be lower than expected before the transfers are made, which typically happens after the adjusted budget is approved in April. This is the reason for the lower amount of revenue received in the Parks and Recreation Scholarship fund, the Park Development fund, the Council Priorities Capital fund, the Water, Sewer, and Electric Sinking funds, the Ice Arena Capital Reserve fund, and the new Recycling Services fund. - The Sewer Utility Fund’s revenue is currently at 83.6% of the fund’s projected total for the year and is significantly higher than the revenue at 3/31/25. This is largely due to a billing to NADC for $2,126,036 for their prepayment of their contribution to the improvements at the WPC facility. - The Resource Recovery Improvements fund shows negative revenue of $227 because expenses for the land purchase for the new Resource Recovery and Recycling Campus were made in the fund. The bonds to cover the expenses, however, have not yet been issued. Because the fund is currently in a negative balance, the fund is being charged interest in the pooled cash and investment system. - Some Internal Service funds (Information Technology, Technology Replacement Reserve, and Risk Management) have lower revenues at 3/31/26 than at 3/31/25. This is because the journal entries to charge those services to City departments was done on an annual basis in FY 2024/25. The journal entry to allocate those services to the departments was done in February 2024 for the full annual amount. The entries are now being made quarterly so the revenues can be reflected in the quarterly reports. The 3/31/26 actual amount reflects 75% of the annual amount instead of the annual amount. - Some funds that have interest as their primary revenue source have higher than anticipated revenue at 3/31/26 due to higher than projected interest rates. Some of the funds affected include the Winakor Donation fund, the Transit Student Government Trust fund, and the Fleet Services Reserve fund. 6 Expenditures The FY 2025/26 Adjusted budget for expenditures has been updated to reflect the amounts approved by the City Council on February 10, 2026. Actual expenditures at 3/31/26 are at 46.3% of adjusted budgeted expenditures. The lower- than-expected percentage is due to capital projected budgeted for FY 2025/26 which are not yet under construction. None of the 3/31/26 expenditures seem out-of-line with what would be expected at this point in the fiscal year. An explanation of some expenditures is provided below: - Funds that are primarily used to fund capital improvement projects have a lower percentage of their budgets spent due to the timing of the projects. These funds include Local Option Sales Tax, Road Use Tax, New Animal Shelter Donations, Parks and Recreation Grants, Street Construction, Council Priorities, General Obligation Bonds, Airport Improvements, and Resource Recovery Improvements. - Police Forfeiture expenditures are at 298% due to several refunds of funding received as evidence. The expenditure amount will be updated in FY 2025/26 final amendments. - The expenditures in the Public Safety Donations and Grants funds are higher than what was budgeted due to grant funding received to purchase a safety trailer. The additional expenses will be included in FY 2025/26 final amendments. - Expenditures in the Water Sinking, Sewer Sinking, Electric Sinking, and Debt Service funds are lower than may be expected because principal payments in these funds are only made once annually on June 1st. - Only 22.7% of Fleet Services Reserve expenditures have been made at 3/31/26 due to delays in equipment orders. - Risk Management expenditures are at 97.0% because a large portion of the fund’s expenditures are one-time payments for insurance coverage made at the beginning of the fiscal year. Workers compensation claims have also been higher than projected for FY 2025/26. A budget adjustment for workers compensation claims will be included in FY 2025/26 final amendments. 7 Fund Balance Summary Fund Balance FY 2025/26 Year-to-Date FY 2025/26 Year-to-Date Quarter 3 Ending Adjusted Ending $ 14,437,445 $ 27,502,902 $ 33,015,492 $ 8,924,855 $ 11,074,767 Local Option Tax $ 9,830,025 $ 8,460,324 $ 7,981,809 $ 10,308,540 $ 5,451,689 Hotel Motel Tax 1,845,983 1,936,123 2,138,406 1,643,701 1,955,092 Road Use Tax 9,912,770 6,103,592 7,595,359 8,421,003 2,647,605 Bike Licenses - - - - - Police Forfeiture 167,301 57,693 35,808 189,186 165,301 Public Safety Donations/Grants (6,681) 81,632 245,497 (170,546) 963 Animal Shelter Donations 161,950 63,403 - 225,353 179,950 New Animal Shelter Donations 462,350 2,265,134 213,142 2,514,341 1,292 City-Wide Housing 383,349 - 27,082 356,267 348,661 CDBG Program (12,030) 647,875 1,047,533 (411,688) - HOME Program - - 18,492 (18,492) - HOME/American Rescue Plan - - - - - Fire/Police Retirement - - - - - Parks/Recreation Grants (193,869) 208,083 6,683 7,531 - Parks/Recreation Donations 213,148 120,110 110,160 223,098 26,148 Parks/Recreation Scholarships 505,117 33,331 - 538,448 701,640 American Rescue Plan 3,361,482 - 318,053 3,043,429 2,748,750 Library Donations and Grants 487,049 178,839 184,035 481,853 424,943 Utility Assistance 22,932 27,980 12,585 38,327 22,932 Public Art Donations 32 3,920 7,840 (3,888) 32 Developer Projects Fund 248,981 1,493 - 250,474 250,481 Economic Development 547,166 28,031 28,031 547,166 547,166 Tax Increment Financing 1,257,007 283,340 249,522 1,290,825 969,457 $ 29,194,062 $ 20,500,904 $ 20,220,037 $ 29,474,929 $ 16,442,102 Special Assessments $ (582,647) $ 189,109 $ - $ (393,538) $ (441,975) Street Construction (1,405,430) 2,368,600 2,806,441 (1,843,271) 294,326 Park Development 583,894 14,277 145,441 452,730 689,028 Winakor Donation 2,039,725 55,780 - 2,095,505 2,063,130 Indoor Aquatic Center Donations 583,189 267,199 995,609 (145,221) 583,189 Council Priorities Capital Fund 8,325,982 222,369 231,647 8,316,704 5,997,500 General Obligation Bonds 23,398,234 14,525,822 11,484,006 26,440,050 4,808,400 $ 32,942,947 $ 17,643,155 $ 15,663,143 $ 34,922,959 $ 13,993,598 Cemetery Perpetual Care $ 1,132,565 $ 17,437 $ - $ 1,150,002 $ 1,157,315 Furman Aquatic Center Trust 1,165,905 31,652 9,160 1,188,397 1,185,220 $ 2,298,470 $ 49,089 $ 9,160 $ 2,338,399 $ 2,342,535 8 Fund Balance Summary, continued Fund Balance FY 2025/26 Year-to-Date FY 2025/26 Year-to-Date Quarter 3 Ending Adjusted Ending Airport Operations $ 81,968 $ 161,915 $ 129,526 $ 114,357 $ 81,968 Airport Improvements 628,633 277,771 1,227,526 (321,122) 176,323 Airport Sigler Reserve 2,931,422 77,794 - 3,009,216 2,871,777 Water Utility 21,768,679 12,993,608 8,034,642 26,727,645 16,454,811 Water Construction 187,703 - 2,349,743 (2,162,040) - Water Sinking 265,970 1,160,375 480,750 945,595 265,322 Sewer Utility 26,119,251 11,839,195 5,349,507 32,608,940 26,203,938 Sewer Improvements (7,784,045) 23,210,024 18,851,783 (3,425,804) 3,791 Sewer Sinking 114,181 357,146 425,401 45,925 176,511 Electric Utility 58,022,424 53,932,872 57,578,360 54,376,936 40,142,128 Electric Sinking 80,518 241,519 25,538 296,499 80,696 SunSmart Community Solar 1,004,830 109,762 110,521 1,004,071 1,004,468 Electric Sustainability Reserve 2,555,160 68,565 - 2,623,725 2,475,160 Parking Operations 106,490 722,376 687,171 141,695 105,974 Parking Capital Reserve 1,290,554 34,529 - 1,325,083 1,320,554 Transit Operations 8,707,243 10,151,532 11,496,690 7,362,084 7,713,042 Transit Student Government Trust 1,529,822 41,915 - 1,571,737 1,548,822 Transit Capital Reserve 15,283,975 6,791,112 8,941,075 13,134,012 10,621,007 Stormwater Utility 8,753,028 1,603,941 1,783,548 8,573,421 2,302,354 Stormwater Improvements (40,000) 475,000 802,815 (367,815) - Ames/ISU Ice Arena 359,045 614,364 511,498 461,911 400,112 Ice Arena Capital Reserve 71,283 606 7,266 64,624 144,148 Homewood Golf Course 964,414 329,425 259,739 1,034,099 1,057,068 Resource Recovery 1,825,496 2,857,051 3,206,397 1,476,151 1,411,359 Resource Recovery Improvements (65,587) (227) 865,225 (931,038) - Recycling Services - - - - 150,000 $144,762,457 $128,052,170 $ 123,124,722 $149,689,906 $116,711,333 $ 3,834,328 $ 7,557,600 $ 1,444,516 $ 9,947,413 $ 4,887,798 Fleet Services $ 100,378 $ 1,674,164 $ 2,002,533 $ (227,990) $ 140,378 Fleet Replacement Reserve 13,350,453 1,835,033 1,184,333 14,001,153 11,052,523 Fleet Services Reserve 1,761,752 406,798 160,000 2,008,550 1,834,752 Information Technology 120,002 1,545,890 1,762,919 (97,027) 120,000 Technology Replacement Reserve 2,364,596 216,494 271,959 2,309,131 2,303,344 Shared Communications (2) 295,775 336,608 (40,834) - Information Technology Reserve 1,919,103 98,267 108,086 1,909,283 1,723,328 Risk Management 4,093,500 2,753,846 3,281,013 3,566,333 4,231,053 Health Insurance 7,919,257 11,335,165 11,220,002 8,034,420 7,423,561 $ 31,629,039 $ 20,161,432 $ 20,327,452 $ 31,463,019 $ 28,828,939 $259,098,748 $221,467,253 $ 213,804,522 $266,761,479 $194,281,072 Fund Balance: The net assets of a fund calculated on a budgetary basis and used as a measure of financial resources available in the fund. 9 Revenue Summary by Fund FY 2024/25 FY 2025/26 Actual Actual at Adopted Adjusted Actual at % of Actual to $ 46,425,916 $ 25,841,081 $ 47,465,237 $ 47,394,942 $ 27,502,902 58.0% Local Option Tax $ 12,011,678 $ 7,896,970 $ 12,558,616 $ 12,578,464 $ 8,460,324 67.3% Hotel Motel Tax 3,027,969 1,995,511 2,773,000 3,120,000 1,936,123 62.1% Road Use Tax 9,407,604 6,117,884 9,504,055 9,562,721 6,103,592 63.8% Bike Licenses - - - - - Police Forfeiture 25,915 25,063 10,000 10,000 57,693 576.9% Public Safety Donations/Grants 42,239 22,804 48,000 96,515 81,632 84.6% Animal Shelter Donations 139,894 120,709 79,000 93,000 63,403 68.2% New Animal Shelter Donations 462,350 2,313 1,500,000 4,038,942 2,265,134 56.1% City-Wide Housing - - 500 500 - 0.0% CDBG Program 590,163 47,221 684,122 2,371,973 647,875 27.3% HOME Program 1,948,389 1,904,506 256,483 1,269,492 - 0.0% HOME/American Rescue Plan - - 630,983 631,705 - 0.0% Fire/Police Retirement 173 173 - - - Parks/Recreation Grants 48,804 17,479 567,900 813,083 208,083 25.6% Parks/Recreation Donations 210,140 99,647 93,912 93,912 120,110 127.9% Parks/Recreation Scholarships 224,058 13,732 11,000 196,523 33,331 17.0% American Rescue Plan - - - - - Library Donations and Grants 338,838 320,246 485,131 446,982 178,839 40.0% Utility Assistance 24,198 19,526 15,500 15,500 27,980 180.5% Public Art Donations - - - 7,840 3,920 50.0% Developer Projects 2,723 1,274 1,500 1,500 1,493 99.5% Economic Development 28,031 28,031 28,032 28,032 28,031 100.0% Tax Increment Financing 420,049 208,501 595,000 595,000 283,340 47.6% $ 28,953,215 $ 18,841,590 $ 29,842,734 $ 35,971,684 $ 20,500,904 57.0% Special Assessments $ 303,875 $ 222,500 $ 209,414 $ 190,072 $ 189,109 99.5% Street Construction 4,098,209 2,110,019 3,786,000 13,355,159 2,368,600 17.7% Park Development 126,400 11,721 115,000 290,000 14,277 4.9% Winakor Donation 91,060 39,905 45,000 45,000 55,780 124.0% Indoor Aquatic Center Donations 3,980,338 2,391,006 800,000 800,000 267,199 33.4% Council Priorities Capital Fund 4,722,105 1,549,719 60,000 819,546 222,369 27.1% General Obligation Bonds 20,127,571 19,582,687 15,270,000 15,270,000 14,525,822 95.1% $ 33,449,558 $ 25,907,557 $ 20,285,414 $ 30,769,777 $ 17,643,155 57.3% Cemetery Perpetual Care $ 23,305 $ 12,701 $ 26,250 $ 24,750 $ 17,437 70.5% Furman Aquatic Center Trust 58,670 27,581 35,000 35,000 31,652 90.4% $ 81,975 $ 40,282 $ 61,250 $ 59,750 $ 49,089 82.2% 10 Revenue Summary by Fund, continued FY 2024/25 FY 2025/26 Actual Actual at Adopted Adjusted Actual at % of Actual to Airport Operations $ 337,952 $ 99,140 $ 326,467 $ 400,130 $ 161,915 40.5% Airport Improvements 2,454,278 547,211 10,770,941 12,426,869 277,771 2.2% Airport Sigler Reserve 144,355 67,950 75,000 75,000 77,794 103.7% Water Utility 15,976,866 10,759,292 17,181,604 19,866,024 12,993,608 65.4% Water Construction 812,292 812,292 - 4,531,036 - 0.0% Water Sinking 4,512,258 3,384,193 4,640,852 4,640,852 1,160,375 25.0% Sewer Utility 13,621,578 9,135,434 13,553,800 14,153,424 11,839,195 83.6% Sewer Improvements 15,990,677 7,768,706 26,240,000 52,721,621 23,210,024 44.0% Sewer Sinking 1,576,522 1,073,642 1,428,532 2,223,938 357,146 16.1% Electric Utility 71,873,621 50,965,452 77,098,000 80,983,395 53,932,872 66.6% Electric Sinking 966,213 724,659 966,253 966,253 241,519 25.0% SunSmart Community Solar 193,747 136,565 178,000 186,500 109,762 58.9% Electric Sustainability Reserve 125,053 58,508 70,000 70,000 68,565 97.9% Parking Operations 861,112 621,852 1,030,800 973,790 722,376 74.2% Parking Capital Reserve 62,975 29,464 30,000 30,000 34,529 115.1% Transit Operations 16,024,937 11,944,539 15,686,069 15,686,069 10,151,532 64.7% Transit Student Government Trust 499,492 25,322 19,000 19,000 41,915 220.6% Transit Capital Reserve 2,840,336 662,360 5,409,056 13,078,405 6,791,112 51.9% Stormwater Utility 2,520,474 1,679,163 2,218,500 2,216,500 1,603,941 72.4% Stormwater Improvements - - 400,000 1,300,000 475,000 36.5% Ames/ISU Ice Arena 678,162 536,312 694,595 685,537 614,364 89.6% Ice Arena Capital Reserve 84,804 42,376 83,000 83,000 606 0.7% Homewood Golf Course 614,954 334,926 578,956 587,656 329,425 56.1% Resource Recovery 5,308,335 3,003,452 5,517,828 5,309,128 2,857,051 53.8% Res Recovery Improvements - - - 6,954,697 (227) 0.0% Recycling Services - - - 150,000 - 0.0% $158,080,993 $104,412,810 $184,197,253 $240,318,824 $128,052,170 53.3% $ 13,385,488 $ 7,231,164 $ 13,479,696 $ 15,146,464 $ 7,557,600 49.9% Fleet Services $ 2,637,295 $ 1,553,472 $ 2,880,656 $ 2,859,675 $ 1,674,164 58.5% Fleet Replacement Reserve 2,643,704 1,390,717 2,458,721 2,927,330 1,835,033 62.7% Fleet Services Reserve 730,389 340,348 400,000 400,000 406,798 101.7% Information Technology 2,314,038 2,273,695 1,979,252 2,085,863 1,545,890 74.1% Technology Replacement Reserve 334,913 309,913 326,676 350,098 216,494 61.8% Shared Communications 367,399 281,902 400,000 410,000 295,775 72.1% Information Technology Reserve 629,876 173,752 70,000 70,000 98,267 140.4% Risk Management 3,490,502 3,113,786 3,745,829 3,520,502 2,753,846 78.2% Health Insurance 13,764,065 9,771,751 13,154,161 14,246,041 11,335,165 79.6% $ 26,912,181 $ 19,209,336 $ 25,415,295 $ 26,869,509 $ 20,161,432 75.0% $307,289,326 $201,483,820 $320,746,879 $396,530,950 $221,467,253 55.9% 11 Expenditure Summary by Fund FY 2024/25 FY 2025/26 Actual Actual at Adopted Adjusted Actual at % of Actual to $ 48,925,753 $ 33,357,396 $ 47,465,237 $ 50,757,620 $ 33,015,492 65.0% Local Option Tax $ 12,874,887 $ 7,855,919 $ 12,514,377 $ 16,956,800 $ 7,981,809 47.1% Hotel Motel Tax 3,114,588 2,312,210 2,580,261 3,010,891 2,138,406 71.0% Road Use Tax 8,911,230 6,648,616 11,225,779 16,827,886 7,595,359 45.1% Bike Licenses 10,026 2,604 - - - Police Forfeiture 31,272 25,620 12,000 12,000 35,808 298.4% Public Safety Donations/Grants 54,590 29,878 48,000 88,871 245,497 276.2% Animal Shelter Donations 120,957 57,939 80,500 75,000 - 0.0% New Animal Shelter Donations - - 1,500,000 4,500,000 213,142 4.7% City-Wide Housing 33,519 23,106 29,410 35,188 27,082 77.0% CDBG Program 667,670 165,768 684,122 2,359,943 1,047,533 44.4% HOME Program 1,948,389 1,907,738 256,483 1,269,492 18,492 1.5% HOME/American Rescue Plan - - 630,983 631,705 - 0.0% Fire/Police Retirement 16,067 - - - - Parks/Recreation Grants 48,904 37,076 567,900 619,214 6,683 1.1% Parks/Recreation Donations 139,084 29,829 87,000 280,912 110,160 39.2% Parks/Recreation Scholarships - - - - - American Rescue Plan 2,789,825 1,385,478 - 612,732 318,053 51.9% Library Donations and Grants 362,644 227,586 471,831 509,088 184,035 36.1% Utility Assistance 19,275 8,825 15,500 15,500 12,585 81.2% Public Art Donations 3,950 3,950 - 7,840 7,840 100.0% Developer Projects Fund - - - - - Economic Development 28,032 28,032 28,032 28,032 28,031 100.0% Tax Increment Financing 680,000 173,975 882,550 882,550 249,522 0 $ 31,854,909 $ 20,924,149 $ 31,614,728 $ 48,723,644 $ 20,220,037 41.5% Special Assessments $ 44,928 $ - $ 49,400 $ 49,400 $ - 0.0% Street Construction 3,738,095 2,098,202 3,786,000 11,655,403 2,806,441 24.1% Park Development 93,884 85,006 - 184,866 145,441 78.7% Winakor Donation - - 139,366 21,595 - 0.0% Indoor Aquatic Center Donations 3,413,086 2,991,307 800,000 800,000 995,609 124.5% Council Priorities Capital Fund 1,121,803 1,077,596 1,750,000 3,148,028 231,647 7.4% General Obligation Bonds 18,660,849 10,544,693 18,240,213 33,859,834 11,484,006 33.9% $ 27,072,645 $ 16,796,804 $ 24,764,979 $ 49,719,126 $ 15,663,143 31.5% Cemetery Perpetual Care $ - $ - $ - $ - $ - Furman Aquatic Center Trust 16,696 - - 15,685 9,160 58.4% $ 16,696 $ - $ - $ 15,685 $ 9,160 58.4% 12 Expenditure Summary by Fund, continued FY 2024/25 FY 2025/26 Actual Actual at Adopted Adjusted Actual at % of Actual to Airport Operations $ 321,546 $ 104,691 $ 326,467 $ 400,130 $ 129,526 32.4% Airport Improvements 2,619,376 1,452,618 10,784,250 12,879,179 1,227,526 9.5% Airport Sigler Reserve 65,956 - 67,945 134,645 - 0.0% Water Utility 14,647,028 9,964,795 19,971,633 25,179,892 8,034,642 31.9% Water Construction 1,099,010 285,567 - 4,718,739 2,349,743 49.8% Water Sinking 4,421,563 506,334 4,641,500 4,641,500 480,750 10.4% Sewer Utility 10,437,871 6,808,834 10,672,882 14,068,737 5,349,507 38.0% Sewer Improvements 18,632,233 6,268,376 26,240,000 44,933,785 18,851,783 42.0% Sewer Sinking 1,474,202 193,318 1,428,582 2,161,608 425,401 19.7% Electric Utility 70,608,757 46,783,434 80,411,931 98,863,691 57,578,360 58.2% Electric Sinking 966,213 35,606 966,075 966,075 25,538 2.6% SunSmart Community Solar 189,638 113,210 185,602 186,862 110,521 59.1% Electric Sustainability Reserve - - - 150,000 - 0.0% Parking Operations 882,345 629,228 1,031,607 974,306 687,171 70.5% Parking Capital Reserve - - - - - Transit Operations 17,175,531 11,022,413 16,492,130 16,680,270 11,496,690 68.9% Transit Student Government Trust - - - - - Transit Capital Reserve 992,814 659,064 6,510,563 17,741,373 8,941,075 50.4% Stormwater Utility 1,691,520 900,784 3,137,255 8,667,174 1,783,548 20.6% Stormwater Improvements 40,000 - 400,000 1,260,000 802,815 63.7% Ames/ISU Ice Arena 602,501 431,555 595,249 644,470 511,498 79.4% Ice Arena Capital Reserve 137,607 62,536 - 10,135 7,266 71.7% Homewood Golf Course 361,003 224,748 406,229 495,002 259,739 52.5% Resource Recovery 4,931,963 3,264,460 5,577,633 5,723,265 3,206,397 56.0% Res Recovery Improvements 65,587 - - 6,889,110 865,225 12.6% Recycling Services - - - - - $152,364,264 $ 89,711,571 $189,847,533 $268,369,948 $123,124,722 45.9% $ 13,421,870 $ 1,276,367 $ 14,092,994 $ 14,092,994 $ 1,444,516 10.2% Fleet Services $ 2,650,183 $ 1,882,188 $ 2,840,656 $ 2,819,675 $ 2,002,533 71.0% Fleet Replacement Reserve 2,645,205 1,589,453 2,835,300 5,225,260 1,184,333 22.7% Fleet Services Reserve 128,339 28,339 100,000 327,000 160,000 48.9% Information Technology 2,314,038 1,641,705 1,979,252 2,085,863 1,762,919 84.5% Technology Replacement Reserve 262,814 167,838 250,800 411,350 271,959 66.1% Shared Communications 367,401 365,886 400,000 410,000 336,608 82.1% Information Technology Reserve 169,518 24,529 130,000 265,775 108,086 40.7% Risk Management 3,352,993 2,981,554 3,650,429 3,382,949 3,281,013 97.0% Health Insurance 13,916,864 9,185,033 12,548,612 14,741,737 11,220,002 76.1% $ 25,807,355 $ 17,866,525 $ 24,735,049 $ 29,669,609 $ 20,327,452 68.5% $299,463,492 $179,932,812 $332,520,520 $461,348,626 $213,804,522 46.3% 13