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Fort Atkinson reports $1.2M estimated 2025 surplus, approves $412,571.49 in carryovers to 2026
Summary
City Manager Houseman told the council the city had an estimated net surplus of about $1.2 million for 2025 and recommended $412,571.49 in project and operating carryovers to 2026; the council approved the request and staff noted the final audited numbers will be presented in June 2026.
City Manager Houseman presented the Fort Atkinson 2025 year-end financial highlights at the April 9 council meeting, saying the city generated "a total estimated net surplus revenue of just over a million dollars." He told the council the estimated net increase to the general fund was about $1.2 million, bringing the estimated general fund balance to roughly $8.9 million before the final audit.
Houseman said strong interest earnings, proceeds from the sale of Maple Grove lots, and transfers from tax increment districts helped produce the surplus. He told the council the city's share is about one-third of the total property tax bill and that collection timing left roughly 72% of levied property taxes collected as of the end of January — a normal seasonal pattern.
The staff memo and presentation identified two funds with temporary negative balances: TID No. 9 (borrowing of roughly $3.5 million for infrastructure) and the taxi fund (timing of state reimbursements). Houseman said those negative positions are expected to be resolved through planned TID reimbursements and the usual timing of state payments.
Houseman asked the council to approve carryovers of unspent or project-based accounts into 2026 "to ensure projects and programs can be completed as intended." The list included project accounts and a set of operating items; staff requested carryovers totaling $412,571.49. He noted the presented 2025 numbers are preliminary and that the auditors are expected to present the final audit in June 2026.
Council members asked clarifying questions about which accounts are project-based and why some utility and contracted-service accounts were over budget (for example, contracted engineering and utilities for the new public works facility). Houseman explained overspends were generally offset by underruns in salary accounts and other savings.
The council voted to approve the 2025 funds requested to be carried over to 2026 (as shown in the staff memo) and to accept the financial presentation for information. Houseman and staff said they would return with the finalized audit in June and follow up on specific account details on request.
The council's action: approval of the requested 2025 carryovers totaling $412,571.49; audit and final financial statements to follow.
