Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Finance topic
No spam. Unsubscribe anytime.
Lakewood finance briefing: 2025 year‑end, ARPA balance and proposed carry‑forwards
Summary
Finance staff reported stronger‑than‑expected 2025 operating revenues and detailed proposed carry‑forwards for 2026; the city has used most ARPA funds for designated projects but staff said roughly $1.8 million remained available at year‑end and that any unspent ARPA could be applied to downtown and Edgewater parks.
At the April 20 study session the city’s finance team reviewed the 2025 financial report, the transportation‑benefit district annual report, and proposed carry‑forward budget adjustments for 2026.
Finance Director Miss Krauss reported that 2025 operating revenues exceeded budget estimates (sales tax, utility tax and development fees were cited contributors) while some departments spent above their original budgets for reasons including retiree leave payouts and higher police extra‑duty expenditures. Year‑end general‑fund balances remain robust under council policy once reserves are set aside.
On ARPA funds, Krauss summarized that the city previously received approximately $13.67 million and that, after prior allocations and interest earnings, staff estimated roughly $1.79 million remained in the ARPA fund at the end of 2025. She said earlier council direction allows staff to apply any unspent ARPA dollars for downtown and Edgewater park projects and that staff will propose final close‑out accounting and a recommended use of remaining funds during the year‑end budget adjustments.
On capital and carry‑forward items, staff highlighted LED street‑light work, minor capital and chip‑seal programs supported by the Transportation Benefit District (vehicle licensing fees around $805,000 in 2025), and a range of facility repairs. The Westlake street‑end project was flagged as having early placeholder numbers; staff said earlier $500,000 placeholders have been refined and the current working estimate is lower in this packet, but council pushed for tighter minimum‑viable scoping and to limit general‑fund exposure.
Why it matters: the briefing framed the council’s budget priorities for the remainder of the biennium and identified projects that may require council approval to carry funds forward. ARPA timing and the approaching deadline to obligate certain federal funds made near‑term decisions time sensitive.
What’s next: staff will return with carry‑forward ordinance materials, the detailed budget adjustment and an IT/audio‑visual strategy proposal to support future council meetings; they will also provide refined cost estimates for Westlake street‑end options.
