HomeMy WebLinkAboutA009 - Motion accepting Fiscal Year 2025/26 Fourth Quarter Financial ReportITEM #:9
DEPT:FIN
July 28, 2026
Staff Report
FISCAL YEAR 2025/26 FOURTH 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 4 financial report as of June 30, 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 fourth 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
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practices in governmental finance.
ATTACHMENT(S):
2025-26 Quarter 4 Financial Report FINAL.pdf
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City of Ames, Iowa
Fiscal Year 2025/26
Quarter 4 Financial Report
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FY 2025/26 Quarterly Financial Summary
Period Ending June 30, 2026
Introduction
The following reports summarize the City’s fund balances, revenues, and expenditures for the
fourth quarter of FY 2025/26. Although the fund balances, revenues, and expenditures shown in
the report are for activity through June 30, 2026, it needs to be emphasized that these will not
be the final totals for the fiscal year. Revenues will continue to be collected for several months
that will be accrued to FY 2025/26, especially for utility billings, grant reimbursements, and
property and other taxes. Similarly, invoices will continue to be paid for several months for goods
or services that were received in FY 2025/26. Final 2025/26 revenues, expenditures, and fund
balances will be reflected in the upcoming financial statements and the FY 2027/28 budget
document.
Fund Balances
The “Fund Balance at 6/30/25” amounts for each fund (the first column in the fund balance
report) reflect the final audited balances for FY 2024/25 that became the beginning balances for
FY 2025/26.
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,
Stormwater Improvements, and Resource Recovery 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.
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The Budgeted Ending Balance amounts in the far-right column have been updated to reflect the
FY 2025/26 final adjusted revenues and expenditures that were approved on May 26, 2026. The
Quarter 4 Ending Balances are now being compared to these final adjusted ending balances.
Explanations and comments for the “Quarter 4 Ending Balance” column:
- Many of the funds with negative or very small balances (Public Safety Donations/Grants,
CDBG Program, HOME Program, Parks and Recreation Grants, Street Construction, 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.
- The Sewer Sinking Fund has a negative balance because funding to cover principal and
interest payments related to the State Revolving Fund’s loan program has not yet been
transferred from the Sewer Utility Fund. The additional amount needed will be transferred
and accrued to FY 2025/26.
- The New Animal Shelter Donations Fund has a balance of $2,448,770 at the end of the fourth
quarter as donations have been received, but construction of the new shelter has not started.
- Many funds have higher balances at the end of the fourth quarter compared to their projected
balances at the end of the fiscal year (Local Option Sales Tax, Road Use Tax, Council
Priorities Capital Fund, General Obligation Bonds, and Resource Recovery Improvements,
for example). These funds all contain funding for capital improvement projects, and the timing
of the expenditures is dependent on the project schedules. Amounts not spent by the end of
the fiscal year are typically carried over to the next fiscal year.
- The Parking Operations Fund balance is significantly higher than what was projected. At the
end of the fourth quarter, the fund balance is $248,413, compared to $110,863 projected in
the final amended budget. Revenues are at 110.0% and expenditures are at 95.8% of their
projected amounts. 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 more than $100,000 in unpaid fines. As old fines are collected, revenue from the
set-off program will level off. The Parking Operations Fund will continue to be monitored in
FY 2026/27.
- The Recycling Services Fund shows a balance of $143,429 at 6/30/26. The balance is the
result of a $150,000 budgeted transfer from the General Fund to start the program, offset by
some minimal expenses to begin the curbside recycling program.
- The Fleet Replacement Reserve Fund balance is higher than what was projected due to
delayed fleet and equipment purchases. The budgeted purchases will be carried over to FY
2026/27.
- The Fleet Services Reserve balance is higher than projected because of funding allocated
to the R3C project that has not been spent. The funding will carry over to FY 2026/27.
- 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 a negative balance of $68,532 at the end of the fourth quarter. The fund is in
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a negative balance because the participating agencies are only billed to cover the fund’s
expenditures at the end of each calendar year. An accrual will be made as part of the audit
process to accrue the revenue that is owed by the participating agencies at the end of FY
2025/26.
Revenues
The FY 2025/26 Final Adjusted Budget for revenues has been updated to reflect the adjustments
approved by the City Council on May 26, 2026. Overall revenues on 6/30/26 were at 82.9% of
the adopted amount for FY 2025/26. While it might seem that revenues should be at 100% at
the end of the fourth quarter, it should be noted that many revenues are received after the end
of periods, such as utility billings, Local Option Sales Tax, Hotel/Motel Tax, and Road Use Tax.
Other items to note in revenues:
- Many funds with revenues that are primarily grants (Public Safety Donations/Grants, CDBG,
HOME, Parks and Recreation Grants, Library Donations/Grants, Street Construction, Airport
Improvements, Water Construction, Sewer Improvements, Transit Capital Reserve, 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 after expenses are incurred.
- Additional donation revenue has been received in several funds (Animal Shelter Donations,
Parks and Recreation Donations, Parks and Recreation Scholarship Donations, and Utility
Assistance (Project Share)). These additional donations were not anticipated at the time final
budget amendments were prepared.
- Airport Operations revenue is only 63.9% of the projected amount at 6/30/26. This is largely
due to revenue that will be billed to Iowa State University for their share of the debt service
related to the airport terminal building. This billing, which needs to be done after audit
adjustments have been completed, is typically done in late August or early September.
- The Sewer Utility Fund’s revenue is currently at 106.9% of the fund’s projected total for the
year and is significantly higher than the revenue at 6/30/25. 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.
- Some funds that have interest as their primary revenue source have higher than anticipated
revenue at 6/30/26 due to higher than projected interest rates. Some of the funds affected
include the Winakor Donation Fund, the Transit Student Government Trust Fund, the Fleet
Services Reserve Fund, and the Information Technology Reserve Fund. The interest
revenue included in the report is not the final interest total for the fiscal year. As part of the
audit process, City investments will be adjusted to their fair market value at 6/30/26, which
could lower or increase interest revenue.
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Expenditures
The FY 2025/26 Final Adjusted Budget for expenditures has been updated to reflect the amounts
approved by the City Council on May 26, 2026.
Actual 6/30/26 expenditures are at 69.8% of adjusted budgeted expenditures. The lower-than-
expected percentage is largely due to capital projects budgeted for FY 2025/26 which are not
yet complete. Funding for these projects will be carried over to FY 2026/27.
An explanation of some expenditures is provided below:
- Funds that are used to finance 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, American Rescue Plan, Street Construction,
Indoor Aquatic Center Donations, Council Priorities, General Obligation Bonds, Airport
Improvements, Water Utility, Water Construction, Sewer Utility, Sewer Improvements,
Electric Utility, Stormwater Utility, Stormwater Improvements, and Resource Recovery
Improvements. Unspent CIP funding will be carried over to FY 2026/27.
- The Animal Shelter Donations Fund is currently showing no expenditures for the fiscal year.
This is because all Animal Shelter operating expenditures are now being recorded in the
General Fund. After all FY 2025/26 invoices have been paid, a transfer will be made from the
Animal Shelter Donations Fund to the General Fund to cover expenditures that were higher
than anticipated in the General Fund budget.
- Unspent funding for expenditures in the CDBG program, the HOME program, and the
HOME/American Rescue Plan program will be carried over to FY 2026/27 as allowed by the
parameters of each program.
- Funding in several donation funds (Public Safety Donations/Grants, Parks and Recreation
Donations, and Library Donations/Grants) is lower than what was budgeted because the
expenditures for which the donations were received have not yet been made. Any unused
donation funding will be carried over to FY 2026/27.
- Only 29.2% of Fleet Replacement Reserve expenditures have been made at 6/30/26 due to
delays in equipment orders and long lead times to purchase equipment. Unused equipment
funding will be carried over to FY 2026/27.
- Fleet Services Reserve expenditures are at only 43.5% of the projected amount because
funding included for the R3C project has not yet been spent. This funding will be carried over
to FY 2026/27.
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Fund Balance Summary
Fund
Balance
FY 2025/26
Year-to-Date
FY 2025/26
Year-to-Date
Quarter 4
Ending
Budgeted
Ending
$ 14,437,445 $ 46,381,350 $ 47,049,886 $ 13,768,909 $ 11,060,930
Local Option Tax $ 9,830,025 $ 11,453,426 $ 11,013,104 $ 10,270,347 $ 5,523,328
Hotel Motel Tax 1,845,983 2,649,278 2,894,056 1,601,205 1,917,980
Road Use Tax 9,912,770 8,693,470 10,796,298 7,809,942 2,672,207
Bike Licenses - - - - -
Police Forfeiture 167,301 59,679 52,179 174,801 167,154
Public Safety Donations/Grants (6,681) 87,966 264,698 (183,414) 963
Animal Shelter Donations 161,950 75,418 - 237,368 150,950
New Animal Shelter Donations 462,350 2,317,725 331,305 2,448,770 1,292
City-Wide Housing 383,349 500 36,346 347,503 348,661
CDBG Program (12,030) 1,282,061 1,508,664 (238,633) -
HOME Program - - 234,729 (234,729) -
HOME/American Rescue Plan - - - - -
Fire/Police Retirement - - - - -
Parks/Recreation Grants (193,869) 405,685 622,194 (410,378) -
Parks/Recreation Donations 213,148 160,439 153,619 219,968 54,148
Parks/Recreation Scholarships 505,117 216,064 260 720,922 701,640
American Rescue Plan 3,361,482 - 318,053 3,043,429 2,725,196
Library Donations and Grants 487,049 277,114 285,821 478,343 424,943
Utility Assistance 22,932 33,466 35,522 20,876 9,932
Public Art Donations 32 7,840 7,840 32 32
Developer Projects Fund 248,981 2,321 - 251,302 250,481
Economic Development 547,166 28,031 28,031 547,166 547,166
Tax Increment Financing 1,257,007 547,625 832,411 972,220 969,457
$ 29,194,062 $ 28,298,111 $ 29,415,132 $ 28,077,041 $ 16,465,530
Special Assessments $ (582,647) $ 189,766 $ 42,400 $ (435,281) $ (441,975)
Street Construction (1,405,430) 3,447,654 3,838,939 (1,796,715) 294,326
Park Development 583,894 298,325 144,086 738,133 689,028
Winakor Donation 2,039,725 86,543 21,595 2,104,673 2,063,130
Indoor Aquatic Center Donations 583,189 268,969 510,217 341,941 583,189
Council Priorities Capital Fund 8,325,982 1,119,256 275,610 9,169,628 5,997,500
General Obligation Bonds 23,398,234 14,790,548 15,121,431 23,067,352 4,777,648
$ 32,942,947 $ 20,201,061 $ 19,954,278 $ 33,189,730 $ 13,962,846
Cemetery Perpetual Care $ 1,132,565 $ 28,885 $ - $ 1,161,450 $ 1,157,315
Furman Aquatic Center Trust 1,165,905 49,172 15,685 1,199,392 1,185,220
$ 2,298,470 $ 78,057 $ 15,685 $ 2,360,842 $ 2,342,535
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Fund Balance Summary, continued
Fund
Balance
FY 2025/26
Year-to-Date
FY 2025/26
Year-to-Date
Quarter 4
Ending
Budgeted
Ending
Airport Operations $ 81,968 $ 255,607 $ 272,489 $ 65,086 $ 152,468
Airport Improvements 628,633 1,301,314 1,666,174 263,773 186,248
Airport Sigler Reserve 2,931,422 119,585 67,945 2,983,062 2,871,777
Water Utility 21,768,679 18,564,007 14,375,734 25,956,952 15,854,443
Water Construction 187,703 1,953,281 2,200,221 (59,237) -
Water Sinking 265,970 4,641,500 4,554,515 352,955 265,322
Sewer Utility 26,119,251 15,123,692 8,976,604 32,266,339 26,226,488
Sewer Improvements (7,784,045) 30,436,232 24,510,041 (1,857,854) 3,791
Sewer Sinking 114,181 1,428,582 2,099,067 (556,304) 141,511
Electric Utility 58,022,424 72,090,656 84,440,002 45,673,078 43,358,652
Electric Sinking 80,518 966,075 966,075 80,518 80,696
SunSmart Community Solar 1,004,830 160,942 159,869 1,005,904 1,004,468
Electric Sustainability Reserve 2,555,160 103,507 150,000 2,508,667 2,475,160
Parking Operations 106,490 1,061,915 919,992 248,413 110,863
Parking Capital Reserve 1,290,554 53,687 - 1,344,241 1,320,554
Transit Operations 8,707,243 15,909,929 16,098,707 8,518,465 7,713,042
Transit Student Government Trust 1,529,822 65,172 - 1,594,994 1,548,822
Transit Capital Reserve 15,283,975 9,002,985 10,431,342 13,855,618 10,621,007
Stormwater Utility 8,753,028 2,228,079 2,542,108 8,438,999 2,297,354
Stormwater Improvements (40,000) 475,000 860,000 (425,000) -
Ames/ISU Ice Arena 359,045 705,987 665,886 399,146 400,112
Ice Arena Capital Reserve 71,283 81,751 7,266 145,768 147,017
Homewood Golf Course 964,414 604,758 398,703 1,170,469 1,057,068
Resource Recovery 1,825,496 4,414,965 4,288,553 1,951,908 2,192,496
Resource Recovery Improvements (65,587) 7,099,773 2,466,457 4,567,730 65,587
Recycling Services - 152,813 9,384 143,429 -
$ 144,762,457 $ 189,001,794 $ 183,127,132 $ 150,637,120 $ 120,094,946
$ 3,834,328 $ 15,361,721 $ 14,093,058 $ 5,102,991 $ 4,908,535
Fleet Services $ 100,378 $ 2,627,956 $ 2,597,882 $ 130,452 $ 140,378
Fleet Replacement Reserve 13,350,453 3,012,434 1,546,432 14,816,454 11,052,523
Fleet Services Reserve 1,761,752 653,240 327,051 2,087,941 1,409,752
Information Technology 120,002 2,093,639 1,931,264 282,377 120,000
Technology Replacement Reserve 2,364,596 350,098 382,068 2,332,626 2,215,987
Shared Communications (2) 295,775 364,306 (68,532) (8,000)
Information Technology Reserve 1,919,103 161,100 144,314 1,935,889 1,680,078
Risk Management 4,093,500 3,632,626 3,570,818 4,155,308 3,821,146
Health Insurance 7,919,257 15,511,427 14,798,335 8,632,349 7,423,561
$ 31,629,039 $ 28,338,295 $ 25,662,470 $ 34,304,864 $ 27,855,425
$ 259,098,748 $ 327,660,389 $ 319,317,641 $ 267,441,497 $ 196,690,747
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.
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Revenue Summary by Fund
FY 2024/25 FY 2025/26
Actual Actual at Adopted
Final
Adjusted Actual at
% of
Actual to
$ 46,425,916 $ 43,152,938 $ 47,465,237 $ 47,296,330 $ 46,381,350 98.1%
Local Option Tax $ 12,011,678 $ 10,822,376 $ 12,558,616 $ 12,578,464 $ 11,453,426 91.1%
Hotel Motel Tax 3,027,969 2,646,905 2,773,000 3,120,000 2,649,278 84.9%
Road Use Tax 9,407,604 8,681,926 9,504,055 9,562,721 8,693,470 90.9%
Bike Licenses - - - - - Police Forfeiture 25,915 25,915 10,000 56,000 59,679 106.6%
Public Safety Donations/Grants 42,239 37,378 48,000 332,031 87,966 26.5%
Animal Shelter Donations 139,894 137,148 79,000 64,000 75,418 117.8%
New Animal Shelter Donations 462,350 462,118 1,500,000 4,038,942 2,317,725 57.4%
City-Wide Housing - - 500 500 500 100.0%
CDBG Program 590,163 78,572 684,122 2,371,973 1,282,061 54.1%
HOME Program 1,948,389 1,942,602 256,483 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 48,804 567,900 813,083 405,685 49.9%
Parks/Recreation Donations 210,140 206,669 93,912 121,912 160,439 131.6%
Parks/Recreation Scholarships 224,058 218,860 11,000 196,523 216,064 109.9%
American Rescue Plan - - - - - Library Donations and Grants 338,838 330,186 485,131 446,982 277,114 62.0%
Utility Assistance 24,198 24,198 15,500 15,500 33,466 215.9%
Public Art Donations - - - 7,840 7,840 100.0%
Developer Projects 2,723 1,847 1,500 1,500 2,321 154.7%
Economic Development 28,031 28,031 28,032 28,032 28,031 100.0%
Tax Increment Financing 420,049 396,369 595,000 595,000 547,625 92.0%
$ 28,953,215 $ 26,090,077 $ 29,842,734 $ 36,252,200 $ 28,298,111 78.1%
Special Assessments $ 303,875 $ 303,875 $ 209,414 $ 190,072 $ 189,766 99.8%
Street Construction 4,098,209 3,139,149 3,786,000 13,403,453 3,447,654 25.7%
Park Development 126,400 117,935 115,000 290,000 298,325 102.9%
Winakor Donation 91,060 61,339 45,000 45,000 86,543 192.3%
Indoor Aquatic Center Donations 3,980,338 3,985,115 800,000 800,000 268,969 33.6%
Council Priorities Capital Fund 4,722,105 4,632,887 60,000 819,546 1,119,256 136.6%
General Obligation Bonds 20,127,571 20,016,550 15,270,000 15,270,000 14,790,548 96.9%
$ 33,449,558 $ 32,256,850 $ 20,285,414 $ 30,818,071 $ 20,201,061 65.5%
Cemetery Perpetual Care $ 23,305 $ 23,108 $ 26,250 $ 24,750 $ 28,885 116.7%
Furman Aquatic Center Trust 58,670 39,777 35,000 35,000 49,172 140.5%
$ 81,975 $ 62,885 $ 61,250 $ 59,750 $ 78,057 130.6%
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Revenue Summary by Fund, continued
FY 2024/25 FY 2025/26
Actual Actual at Adopted
Final
Adjusted Actual at
% of
Actual to
Airport Operations $ 337,952 $ 253,070 $ 326,467 $ 400,130 $ 255,607 63.9%
Airport Improvements 2,454,278 1,915,648 10,770,941 12,318,369 1,301,314 10.6%
Airport Sigler Reserve 144,355 97,832 75,000 75,000 119,585 159.4%
Water Utility 15,976,866 14,820,479 17,181,604 19,911,003 18,564,007 93.2%
Water Construction 812,292 812,292 - 4,531,036 1,953,281 43.1%
Water Sinking 4,512,258 4,512,258 4,640,852 4,640,852 4,641,500 100.0%
Sewer Utility 13,621,578 12,646,426 13,553,800 14,153,424 15,123,692 106.9%
Sewer Improvements 15,990,677 15,990,677 26,240,000 50,021,621 30,436,232 60.8%
Sewer Sinking 1,576,522 1,576,522 1,428,532 2,223,938 1,428,582 64.2%
Electric Utility 71,873,621 66,070,590 77,098,000 81,969,255 72,090,656 87.9%
Electric Sinking 966,213 966,213 966,253 966,253 966,075 100.0%
SunSmart Community Solar 193,747 188,623 178,000 186,500 160,942 86.3%
Electric Sustainability Reserve 125,053 84,854 70,000 70,000 103,507 147.9%
Parking Operations 861,112 848,319 1,030,800 965,087 1,061,915 110.0%
Parking Capital Reserve 62,975 42,732 30,000 30,000 53,687 179.0%
Transit Operations 16,024,937 14,486,001 15,686,069 15,686,069 15,909,929 101.4%
Transit Student Government Trust 499,492 481,135 19,000 19,000 65,172 343.0%
Transit Capital Reserve 2,840,336 2,619,710 5,409,056 13,078,405 9,002,985 68.8%
Stormwater Utility 2,520,474 2,272,389 2,218,500 2,216,500 2,228,079 100.5%
Stormwater Improvements - - 400,000 1,300,000 475,000 36.5%
Ames/ISU Ice Arena 678,162 647,106 694,595 685,537 705,987 103.0%
Ice Arena Capital Reserve 84,804 83,093 83,000 83,000 81,751 98.5%
Homewood Golf Course 614,954 600,155 578,956 587,656 604,758 102.9%
Resource Recovery 5,308,335 4,979,951 5,517,828 5,309,128 4,414,965 83.2%
Res Recovery Improvements - - - 7,057,697 7,099,773 100.6%
Recycling Services - - - 150,000 152,813 101.9%
$ 158,080,993 $ 146,996,075 $ 184,197,253 $ 238,635,460 $ 189,001,794 79.2%
$ 13,385,488 $ 13,182,927 $ 13,479,696 $ 15,167,266 $ 15,361,721 101.3%
Fleet Services $ 2,637,295 $ 2,207,663 $ 2,880,656 $ 2,859,675 $ 2,627,956 91.9%
Fleet Replacement Reserve 2,643,704 1,925,918 2,458,721 3,001,921 3,012,434 100.4%
Fleet Services Reserve 730,389 495,658 400,000 400,000 653,240 163.3%
Information Technology 2,314,038 2,314,038 1,979,252 2,085,863 2,093,639 100.4%
Technology Replacement Reserve 334,913 334,913 326,676 350,098 350,098 100.0%
Shared Communications 367,399 281,902 400,000 410,000 295,775 72.1%
Information Technology Reserve 629,876 220,069 70,000 70,000 161,100 230.1%
Risk Management 3,490,502 3,442,552 3,745,829 3,520,502 3,632,626 103.2%
Health Insurance 13,764,065 13,114,949 13,154,161 14,246,041 15,511,427 108.9%
$ 26,912,181 $ 24,337,662 $ 25,415,295 $ 26,944,100 $ 28,338,295 105.2%
$ 307,289,326 $ 286,079,414 $ 320,746,879 $ 395,173,177 $ 327,660,389 82.9%
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Expenditure Summary by Fund
FY 2024/25 FY 2025/26
Actual Actual at Adopted
Final
Adjusted Actual at
% of
Actual to
$ 48,925,753 $ 48,524,786 $ 47,465,237 $ 50,672,845 $ 47,049,886 92.9%
Local Option Tax $ 12,874,887 $ 11,457,451 $ 12,514,377 $ 16,885,161 $ 11,013,104 65.2%
Hotel Motel Tax 3,114,588 2,907,714 2,580,261 3,048,003 2,894,056 94.9%
Road Use Tax 8,911,230 9,226,559 11,225,779 16,803,284 10,796,298 64.3%
Bike Licenses 10,026 10,026 - - - Police Forfeiture 31,272 31,272 12,000 56,147 52,179 92.9%
Public Safety Donations/Grants 54,590 54,914 48,000 324,387 264,698 81.6%
Animal Shelter Donations 120,957 112,525 80,500 75,000 - 0.0%
New Animal Shelter Donations - - 1,500,000 4,500,000 331,305 7.4%
City-Wide Housing 33,519 32,511 29,410 35,188 36,346 103.3%
CDBG Program 667,670 387,489 684,122 2,359,943 1,508,664 63.9%
HOME Program 1,948,389 1,948,389 256,483 1,269,492 234,729 18.5%
HOME/American Rescue Plan - - 630,983 631,705 - 0.0%
Fire/Police Retirement 16,067 16,067 - - - Parks/Recreation Grants 48,904 48,904 567,900 619,214 622,194 100.5%
Parks/Recreation Donations 139,084 54,249 87,000 280,912 153,619 54.7%
Parks/Recreation Scholarships - - - - 260 American Rescue Plan 2,789,825 2,319,335 - 636,286 318,053 50.0%
Library Donations and Grants 362,644 332,531 471,831 509,088 285,821 56.1%
Utility Assistance 19,275 19,275 15,500 28,500 35,522 124.6%
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 680,000 680,000 882,550 882,550 832,411 94.3%
$ 31,854,909 $ 29,671,193 $ 31,614,728 $ 48,980,732 $ 29,415,132 60.1%
Special Assessments $ 44,928 $ 38,450 $ 49,400 $ 49,400 $ 42,400 85.8%
Street Construction 3,738,095 2,753,393 3,786,000 11,703,697 3,838,939 32.8%
Park Development 93,884 92,164 - 184,866 144,086 77.9%
Winakor Donation - - 139,366 21,595 21,595 100.0%
Indoor Aquatic Center Donations 3,413,086 3,413,085 800,000 800,000 510,217 63.8%
Council Priorities Capital Fund 1,121,803 1,078,581 1,750,000 3,148,028 275,610 8.8%
General Obligation Bonds 18,660,849 15,519,151 18,240,213 33,890,586 15,121,431 44.6%
$ 27,072,645 $ 22,894,824 $ 24,764,979 $ 49,798,172 $ 19,954,278 40.1%
Cemetery Perpetual Care $ - $ - $ - $ - $ - Furman Aquatic Center Trust 16,696 16,696 - 15,685 15,685 100.0%
$ 16,696 $ 16,696 $ - $ 15,685 $ 15,685 100.0%
12
Expenditure Summary by Fund, continued
FY 2024/25 FY 2025/26
Actual Actual at Adopted
Final
Adjusted Actual at
% of
Actual to
Airport Operations $ 321,546 $ 230,795 $ 326,467 $ 329,630 $ 272,489 82.7%
Airport Improvements 2,619,376 2,367,486 10,784,250 12,760,754 1,666,174 13.1%
Airport Sigler Reserve 65,956 65,956 67,945 134,645 67,945 50.5%
Water Utility 14,647,028 13,189,412 19,971,633 25,825,239 14,375,734 55.7%
Water Construction 1,099,010 406,737 - 4,718,739 2,200,221 46.6%
Water Sinking 4,421,563 4,421,563 4,641,500 4,641,500 4,554,515 98.1%
Sewer Utility 10,437,871 9,898,109 10,672,882 14,046,187 8,976,604 63.9%
Sewer Improvements 18,632,233 13,873,123 26,240,000 42,233,785 24,510,041 58.0%
Sewer Sinking 1,474,202 1,474,202 1,428,582 2,196,608 2,099,067 95.6%
Electric Utility 70,608,757 64,608,005 80,411,931 96,633,027 84,440,002 87.4%
Electric Sinking 966,213 966,213 966,075 966,075 966,075 100.0%
SunSmart Community Solar 189,638 152,523 185,602 186,862 159,869 85.6%
Electric Sustainability Reserve - - - 150,000 150,000 100.0%
Parking Operations 882,345 848,675 1,031,607 960,714 919,992 95.8%
Parking Capital Reserve - - - - - Transit Operations 17,175,531 16,703,699 16,492,130 16,680,270 16,098,707 96.5%
Transit Student Government Trust - - - - -
Transit Capital Reserve 992,814 887,469 6,510,563 17,741,373 10,431,342 58.8%
Stormwater Utility 1,691,520 1,221,929 3,137,255 8,672,174 2,542,108 29.3%
Stormwater Improvements 40,000 - 400,000 1,260,000 860,000 68.3%
Ames/ISU Ice Arena 602,501 576,372 595,249 644,470 665,886 103.3%
Ice Arena Capital Reserve 137,607 114,311 - 7,266 7,266 100.0%
Homewood Golf Course 361,003 328,621 406,229 495,002 398,703 80.5%
Resource Recovery 4,931,963 4,499,329 5,577,633 4,942,128 4,288,553 86.8%
Res Recovery Improvements 65,587 - - 6,926,523 2,466,457 35.6%
Recycling Services - - - 150,000 9,384
$152,364,264 $136,834,529 $189,847,533 $263,302,971 $183,127,132 69.5%
$ 13,421,870 $ 13,421,870 $ 14,092,994 $ 14,093,059 $ 14,093,058 100.0%
Fleet Services $ 2,650,183 $ 2,532,377 $ 2,840,656 $ 2,819,675 $ 2,597,882 92.1%
Fleet Replacement Reserve 2,645,205 1,893,126 2,835,300 5,299,851 1,546,432 29.2%
Fleet Services Reserve 128,339 28,339 100,000 752,000 327,051 43.5%
Information Technology 2,314,038 1,969,732 1,979,252 2,085,863 1,931,264 92.6%
Technology Replacement Reserve 262,814 257,124 250,800 498,707 382,068 76.6%
Shared Communications 367,401 374,977 400,000 418,000 364,306 87.2%
Information Technology Reserve 169,518 59,558 130,000 309,025 144,314 46.7%
Risk Management 3,352,993 3,323,216 3,650,429 3,792,856 3,570,818 94.1%
Health Insurance 13,916,864 12,458,248 12,548,612 14,741,737 14,798,335 100.4%
$ 25,807,355 $ 22,896,697 $ 24,735,049 $ 30,717,714 $ 25,662,470 83.5%
$299,463,492 $274,260,595 $332,520,520 $457,581,178 $319,317,641 69.8%
13