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Loveland finance director: city on track for $7 million in income tax; monitors $400,000 federal reimbursement
Summary
Director of Finance Mark Medler told council the city expects to collect about $7,000,000 in income tax for 2025, noted investments yields have fallen from pandemic highs, and said the city is owed roughly $400,000 in federal reimbursements tied to the new fire station.
The Loveland City Council accepted the third‑quarter 2025 financial report after a presentation from Director of Finance Mark Medler.
Medler said the city is "very confident that income tax is gonna finish with 7,000,000 this year for the first time," noting that a strong January drove much of the increase and that, overall, collections are roughly 10% higher than 2024 year‑to‑date. He added that investment yields have softened from their recent highs and that staff are reallocating some cash into more liquid and higher‑yield accounts such as Star Ohio.
Medler also told council the U.S. Department of Agriculture currently owes the city about $400,000 tied to progress on the new fire station, a reimbursement the city has relied on to float monthly vendor invoices. "So right now, the feds owe us about $400,000 for our fire funds," Medler said; he asked staff to monitor the potential effects if federal reimbursements are delayed by a shutdown.
Council asked whether prolonged federal shutdowns could force the city to liquidate investments at a penalty; Medler said most funds are in liquid accounts and the city can access cash if necessary.
Council moved to accept the report and recorded a unanimous roll call vote, 7–0.
