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City reports bond proceeds for 3rd Avenue, tool‑library grant, surplus sale and a rise in work‑comp mod
Summary
City staff reported the city received $1,420,000 in bond proceeds for the 3rd Avenue/Hayes project, $23,830.12 for the tool library, sold an old fire truck for $22,500, received a $20,425 IAMU safety dividend, and reported the workers' compensation experience mod will increase from 0.92 to 1.52.
During reports at the Jan. 12 meeting, city administrative staff provided several finance and operations updates.
Diana (administrative staff) told the council that payroll went live on the new system with successful results and auditors will finalize the audit report for the next meeting. She said the city received bond proceeds of $1,420,000 on Dec. 30, 2025, designated for the 3rd Avenue and Hayes Street reconstruction project. Diana also reported $23,830.12 received for the tool library and said the city will meet with Cascade Lumber to plan purchases.
Diana said the city sold a 1990 fire truck via an online auction for $22,500 and the buyer picked up the vehicle. The city also received an IAMU (Iowa Association of Municipal Utilities) safety dividend check for $20,425, which will be split between water and sewer funds.
She reported a workforce insurance development: due to an injury last year, the city's workers' compensation experience modification factor will increase from 0.92 to 1.52 and that increase will remain on record for three years.
City staff also reminded the council that the first budget workshop will follow the next regular meeting, with fire, police and EMS presenting departmental budgets.
