Middleton Council approves $4M in general obligation promissory notes

The City of Middleton's Finance and Personnel Committee made significant strides in financial planning during their recent meeting on June 3, 2025. A key resolution was passed, authorizing the issuance of up to $4 million in general obligation promissory notes. This decision is expected to enhance the city's financial flexibility and support ongoing community projects, including the much-anticipated community campus.

Committee members discussed the importance of accurately presenting financial estimates to Moody's and other stakeholders, emphasizing the need for careful consideration before finalizing figures related to the community campus. The discussions highlighted the city's commitment to transparency and prudent financial management as they navigate varying estimates for the project.

In addition to the resolution, the committee welcomed John Frater from the audit team, who presented the highlights of the city's recent financial audit. Frater reported a successful audit process, noting that the city is on track to receive its seventh consecutive award from the Government Finance Officers Association (GFOA) for its financial reporting. He praised the city's timely preparation and minimal audit adjustments, which reflect strong financial practices and accurate record-keeping.

The meeting underscored the city's dedication to maintaining fiscal responsibility while planning for future developments. As Middleton moves forward, the approved resolution and positive audit results signal a proactive approach to managing public funds and enhancing community resources. The committee's actions are poised to foster growth and improve services for residents in the coming years.