Finance committee reports positive May finances, retains tax levy rates

Finance staff reported generally positive results for May and April. The utilities presentation said April revenues exceeded expenses by about $391,000, that electric and water were in surplus while wastewater ran over in the month, and that capital expenditures were about $1.2 million. Staff said the power-cost adjustment calculations over the past year allowed returning roughly $324,000 to customers and noted the February winter storm increased costs for that month.

On municipal finances, Finance Director Mandy Spicer reported May sales-and-use tax receipts rose 2.15% versus May 2025 and are up 5.4% year-to-date. The general fund finished the month about $791,773 in the black; the financial stability account held roughly $2.2 million and unrestricted cash was approximately $400,000 ahead of last year.

The committee also approved the annual levy to continue taxing 2.8 mills on city real and personal property for the general fund and 1.0 mill for the firemen's pension and relief fund — a renewal rather than a rate change.