Wyoming council advances bond anticipation notes and hears third-quarter finance update

The City of Wyoming held public hearings Oct. 20 on ordinances authorizing the issuance of bond anticipation notes to fund phase 2 of the city’s road and water improvement program. Finance staff told council the package would total up to $10,000,000 in notes and that proceeds would close in January 2026; the city plans to consolidate existing notes into bonds in 2026 that would total about $15 million for road improvements and $5 million for water system improvements.

Jeremiah, the city’s finance director, briefed council on the plan and the timing: the notes would fund ongoing work and be rolled into longer-term bonds next year. He said phase 1 of the program is wrapping up and the new financing would allow the city to continue scheduled capital work.

Council also received the third-quarter financial summary for fiscal 2025. The finance director reported general-fund revenues of $12.6 million year to date — with income and property taxes comprising the majority — and expenditures of about $9.2 million. Income-tax receipts were reported up 5.7% versus the prior year (about $390,000), and property-tax receipts were on target with the $4.6 million budgeted amount. Recreation and water funds were reviewed separately: recreation revenues were roughly flat with 2024 and the water fund noted a revenue increase of roughly 7% (about $111,000), reflecting the 2025 rate changes and increased usage.

Council asked clarifying questions about capital projects and grants, including the dog-park project, which received a private donation larger than the project’s expense; staff said any surplus would be returned to the donating foundation when the project closes out. The council voted to receive the finance report.