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Commerce City reports unaudited 2025 revenues 18% above budget, stronger general‑fund reserves
Summary
Finance Director Terresa Wilson told council that un‑audited year‑end 2025 results show general‑fund revenues about 18% over budget and expenditures about 7% under budget, producing a materially larger unassigned fund balance (pre‑audit ~$63M). Sales/use taxes and building permit receipts drove much of the gain.
Finance Director Terresa Wilson presented the city's fourth‑quarter, un‑audited financial report at the March 30 study session, telling council the city finished 2025 with stronger-than-expected revenues and restrained spending.
Wilson said total general fund revenues were roughly 118% of the adopted budget while total expenditures were about 92% of budget. "Our total revenues were 118% of budget…our total expenditures were 92.3% of budget," she told the council, and staff estimated the resulting unassigned general fund balance at about $63.4 million on a pre‑audit basis.
The revenue beat was driven primarily by sales and use taxes — including large building‑use payments from two major construction projects — and stronger than expected fees for plan checks and zoning. Wilson noted that some of the increase was attributable to one‑time items, and that when those are backed out the city still shows a meaningful gain versus budget.
On the expenditure side, Wilson said departments including Administration, Finance and Community Development were under budget in part because of carry‑over ARPA/ACT program dollars; she said staff will bring a carryover budget amendment in May to move unspent ARPA funds into the new fiscal year. Capital spending also increased: capital project expenditures rose from $23.7 million in 2024 to $46.6 million in 2025, largely driven by public‑works projects funded by voter‑approved 2K/Cinderella bond tranches.
Mayor and council asked about long‑term policy on the unassigned fund balance. Wilson said the city does not have a formal written policy for unassigned balance yet but that staff views the current levels as healthy; she and the city manager noted they would bring policy recommendations as part of the long‑term financial plan this year.
What's next: auditors from Plante Moran arrive in May to complete the annual audit; council will see the audited comprehensive annual financial report at the end of June and will consider budget appropriations and the carryover amendment in early May.
