Kevin Ingalls, Englewood’s director of finance, presented the monthly financial report and said the city is about halfway through the fiscal year with revenues at about 51.6% of budget and expenditures at about 48.7% YTD.

Highlights and key figures presented by Ingalls:
- Overall revenues: ~51.6% of budget year to date; sales and use tax slightly down year-to-date (marijuana subcategory was a notable drag). Property tax collections were lower relative to last year because a one-time state payment in the prior year had inflated prior collections.
- Licenses and permits: up for the year after a large permit in June.
- Expenditures: ~48.7% of budget with most departments within their year-to-date allocations; some departments have front-loaded vendor payments.
- Operating surplus: approximately $1 million (compared to about $1.3 million at this point last year).
- Fund balance composition (as of mid-year): net change in fund balance showed a reduction driven by $2.2 million in transfers for capital balanced by the operating surplus; unassigned fund balance remains about $3.3 million and overall reserves about $11.8 million.

Staff asked council whether two small restricted balances — $95,000 in a long-term asset reserve and $182,000 in a stadium refund account — should be included in the 2026 budget proposal. Council members expressed differing views: some supported folding the amounts into the 2026 budget with tracking for intended uses; others preferred retaining the restrictions or leaving the amounts as-is in fund accounting. Christina Underhill, director of Parks, Recreation, Library and Golf, noted that stadium funds were intended for programming and capital tied to youth and recreation uses and that any use should respect that intent.

No formal action was taken. Ingalls said staff would include the restricted amounts in the 2026 budget materials for council consideration and track any conditions attached to restricted funds.

Ending: Staff will carry the June financial status into the proposed 2026 budget materials and will return with the formal budget where council can decide whether to sweep or maintain the small restricted balances.