Box Elder finance officer reports unaudited $36M revenue, $39M spending for 2025
February 02, 2026 | Box Elder, Pennington County, South Dakota
This article was created by AI summarizing key points discussed. AI makes mistakes, so for full details and context, please refer to the video of the full meeting. Please report any errors so we can fix them. Report an error »
Renee Baker, Box Elder finance officer, presented the city’s unaudited year-end financial report for 2025, saying the city took in about $36,000,000 in revenue and spent roughly $39,000,000 over the year. She emphasized the figures are unaudited and subject to change after the formal audit.
Baker said sales tax receipts totaled $5,025,697 and property tax revenue was a little over $2,500,000, figures that together account for the bulk of general-fund operating revenue. She described major spending categories as operations (~30 percent), water and sewer enterprise activity (~19 percent), and capital projects (~30 percent). Several capital projects were deferred or parceled into future years to avoid taking on an additional loan, and Baker noted the city completed migration to a new financial software system in 2025, which will require continued adjustments.
The finance officer told the council that a certificate of deposit holding grant money matured in December and produced roughly $33,000 in interest; the CD was renewed and a partial withdrawal was taken to cover early-year project expenses. Baker said the general fund balance is currently estimated at about $365,000 after transfers to cover sidewalk projects and other capital-improvement program work.
Council discussion focused on investment earnings. A council member asked why budgeted investment earnings of $420,000 fell to about $166,000 in actuals. Baker explained the city kept cash more liquid during a year of large expenses — holding balances at a local bank instead of allocating more to higher-earning investment pools — and said staff reduced the 2026 projection to a more conservative estimate.
Baker also said most enterprise funds operated in the black in 2025. She answered questions about the presentation cadence and suggested moving the full year-end presentation to a quarterly schedule while still providing monthly reports in the consent agenda or informational items.
The council received the report as an informational item; no formal vote or policy change was taken on the year-end figures at the meeting.
Baker said sales tax receipts totaled $5,025,697 and property tax revenue was a little over $2,500,000, figures that together account for the bulk of general-fund operating revenue. She described major spending categories as operations (~30 percent), water and sewer enterprise activity (~19 percent), and capital projects (~30 percent). Several capital projects were deferred or parceled into future years to avoid taking on an additional loan, and Baker noted the city completed migration to a new financial software system in 2025, which will require continued adjustments.
The finance officer told the council that a certificate of deposit holding grant money matured in December and produced roughly $33,000 in interest; the CD was renewed and a partial withdrawal was taken to cover early-year project expenses. Baker said the general fund balance is currently estimated at about $365,000 after transfers to cover sidewalk projects and other capital-improvement program work.
Council discussion focused on investment earnings. A council member asked why budgeted investment earnings of $420,000 fell to about $166,000 in actuals. Baker explained the city kept cash more liquid during a year of large expenses — holding balances at a local bank instead of allocating more to higher-earning investment pools — and said staff reduced the 2026 projection to a more conservative estimate.
Baker also said most enterprise funds operated in the black in 2025. She answered questions about the presentation cadence and suggested moving the full year-end presentation to a quarterly schedule while still providing monthly reports in the consent agenda or informational items.
The council received the report as an informational item; no formal vote or policy change was taken on the year-end figures at the meeting.
View the Full Meeting & All Its Details
This article offers just a summary. Unlock complete video, transcripts, and insights as a Founder Member.
✓
Watch full, unedited meeting videos
✓
Search every word spoken in unlimited transcripts
✓
AI summaries & real-time alerts (all government levels)
✓
Permanent access to expanding government content
30-day money-back guarantee
