Controller reports rising reserves; resident asks for $7 million bond accounting

City Controller Terry Fulker presented a brief overview of Lawrence’s year‑end finances on April 15, saying the general fund finished 2025 about $1.5 million under budget and combined reserves in the general fund and public‑safety levy had increased by approximately $4.5 million since January 2024 to about $13 million, or roughly 42% of 2025 annual expenses.

Fulker cautioned councilors that the impact of a recent state measure (referred to in the meeting as the Senate Enrolled Act) could reduce reserves by the end of 2026 and offered to provide the council with more detailed analyses by email. She said March financials should be posted within a day and that the city’s financial statements are available on the city website.

During citizens comments, Daniel Rap (5718 Wallingwood Drive) asked for a public, line‑item accounting of a $7 million general obligation bond passed by the council in 2024. Rap said he believes the full $7 million was spent in 2025 and asked the mayor to include an itemized list of capital improvements in the state‑of‑the‑city remarks. He said residents warrant transparency on how property‑tax‑funded bond proceeds were used.

Council staff said claims and invoices are reviewed by the Board of Public Works for an additional set of eyes, but the council retains authority to approve payments; the controller clarified claims are not paid until council approval.

Next steps: Controller will provide requested financial details and the council asked staff to ensure financial reports are distributed to council members in advance of meetings where possible.