Keokuk City Council adopts FY2025–26 budget after public hearing

The Keokuk City Council held a public hearing on the fiscal year 2025–26 budget and approved the budget by resolution on April 27, 2025.

Chair opened the public hearing at 3:31 p.m. and said on behalf of staff that the city “presents the fiscal year 2025–26 budget” and that “we are required to pass the budget by resolution, all details are attached.” A staff member summarized the budget and explained its major drivers, including the timing of a planned fire truck purchase of about $1,700,000 and related bond proceeds expected after July 1.

Staff walked the council through fund-level projections. For the general fund the presenter said beginning fund balance was roughly $2.6 million, revenues about $15.6 million and expenditures about $13.4 million, producing an ending fund balance of $4,819,237 for that fund. Staff also summarized special revenues and proprietary funds, and reported a government-wide grand total with beginning balances and a projected ending fund balance of roughly $17,226,452 across all funds.

The presenter described changes in the combined general fund levy and said adjustments made after the state’s lockout period reduced some percentages; the presentation included an illustration that the levy adjustment translated to “about $31 per $100,000 assessed value” in reduced tax impact compared with earlier estimates. Staff also reported TIF receipts (about $1,630,000) applied to TIF-eligible debt and noted other line items such as road use tax and local option sales tax.

Councilors asked procedural and clarification questions, including where delinquent tax receipts appear and which state bill numbers to raise with legislators; staff committed to sending bill numbers and additional details to council by email. With no further public comment, the chair closed the hearing at 3:43 p.m.

The chair then introduced item 4b — “consider resolution approving the fiscal year 2025 to 2026 budget.” A council member moved and the motion was seconded; the chair called for the ayes and declared the motion passed. The transcript records the motion’s passage but does not include a roll-call tally by individual members.

The special meeting was adjourned and the council immediately convened a workshop meeting to discuss additional agenda items.

What happens next: The approved budget will be implemented according to the resolutions and schedules provided to the council; staff said they will circulate specific legislative bill numbers and any further clarifications to the council following the meeting.