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Leawood accepts preliminary 2025 fourth-quarter financial report showing modest favorable variance
Summary
Assistant Finance Director Jana Raper told the council the general fund finished the year with revenue about 1.2% above projections and expenditures roughly 4% lower than budgeted, producing a preliminary $2.3 million favorable variance before transfers.
Assistant Finance Director Jana Raper presented the city's preliminary 2025 fourth-quarter financial results and told the governing body that the year was "fairly uneventful" from a budget perspective. "Our revenue was about 1.2% for the general fund above what we had projected and expenditures were just over 4% less, leaving a budget variance of $2.3 million before transfer," she said.
Raper cautioned that the figures are preliminary and that some revenues and expenditures will be accrued back to 2025 before final closing. Council members praised staff for conservative budgeting and asked clarifying questions about seasonal-pay variances in parks and recreation programs and the difference between the general fund and all budgeted funds. Raper explained that "all budgeted funds" include the general fund plus other formally budgeted funds such as debt service and special-purpose funds, which drives differences between the two-report figures.
The governing body voted unanimously to accept the fourth-quarter preliminary financial report; councilors said they value a strong fund balance for unplanned needs even as they continue budget preparations for the coming year.
What happens next: Staff will complete year-end accruals and return final audited numbers in accordance with the city's financial calendar.
