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Box Elder finance officer reports unaudited $36M revenue, $39M spending for 2025
Summary
Finance Officer Renee Baker told the council the city’s unaudited 2025 results show about $36 million in revenues and $39 million in expenditures, with a general fund balance estimated at roughly $365,000; councilors pressed staff on lower-than-expected investment earnings.
Renee Baker, Box Elder finance officer, presented the city’s unaudited year-end financial report for 2025, saying the city took in about $36,000,000 in revenue and spent roughly $39,000,000 over the year. She emphasized the figures are unaudited and subject to change after the formal audit.
Baker said sales tax receipts totaled $5,025,697 and property tax revenue was a little over $2,500,000, figures that together account for the bulk of general-fund operating revenue. She described major spending categories as operations (~30 percent), water and sewer enterprise activity (~19 percent), and capital projects (~30 percent). Several capital projects were deferred or parceled into future years to avoid taking on an additional loan, and Baker noted the city completed migration to a new financial software system in 2025, which will require continued adjustments.
The finance officer told the council that a certificate of deposit holding grant money matured in December and produced roughly $33,000 in interest; the CD was renewed and a partial withdrawal was taken to cover early-year project expenses. Baker said the general fund balance is currently estimated at about $365,000 after transfers to cover sidewalk projects and other capital-improvement program work.
Council discussion focused on investment earnings. A council member asked why budgeted investment earnings of $420,000 fell to about $166,000 in actuals. Baker explained the city kept cash more liquid during a year of large expenses — holding balances at a local bank instead of allocating more to higher-earning investment pools — and said staff reduced the 2026 projection to a more conservative estimate.
Baker also said most enterprise funds operated in the black in 2025. She answered questions about the presentation cadence and suggested moving the full year-end presentation to a quarterly schedule while still providing monthly reports in the consent agenda or informational items.
The council received the report as an informational item; no formal vote or policy change was taken on the year-end figures at the meeting.
