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Council approves first FY2026 budget amendment, covering CIP carry-forwards and grants
Summary
The council adopted the first amendment to the fiscal year 2026 budget to carry forward multiyear capital projects and add state and federal grant revenues; staff said the changes would not change property tax levies and would be covered by existing fund balances and bonds.
The Iowa City Council unanimously adopted the first amendment to the fiscal year 2026 budget on Tuesday, approving carry-forwards for capital improvement projects, state and federal grant revenues, and other financing adjustments.
Budget Management Analyst Angie Ogden presented the amendment, which carries forward capital projects and grants from the prior year. Ogden said the amendment increases intergovernmental revenues by approximately $18,869,000 (state and federal grants for CIP carry-forwards), adds other financing sources of about $33,472,000 (including wastewater CIP revenue bonds), and records transfer-ins and reimbursements of roughly $22,000,008 for recreation and transit CIP projects.
On the expenditure side, governmental capital projects were listed at approximately $51,218,000, including Court Street and North Gilbert reconstructions, City Park pool and skate-park projects. Business-type enterprise CIP totals were approximately $69,722,000, including wastewater digester gas improvement projects, landfill compost facility work and transit facility projects. Community and economic development carry-forwards included CDBG, HOME and ARPA funds at approximately $11.07 million.
Ogden told the council the amendment’s overall impact to the fund balance is a decrease of just over $81,000,000; staff said those changes are covered through excess fund balances and bond financing and will not affect property tax levies for the fiscal year.
Council accepted the staff presentation, held a public hearing with no speakers, and voted 7-0 to adopt the amendment.
