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Richfield closes 2025 with $3.6 million surplus; council accepts $10,000 Meals on Wheels donation
Summary
Finance Director Turk told council Richfield ended 2025 with a $3,593,375 surplus and higher cash balances; council unanimously accepted an anonymous $10,000 donation for Meals on Wheels and will close 2025 books on Jan. 9, 2026.
Finance Director Turk reported to the council that Richfield finished calendar year 2025 with an overall surplus of $3,593,375 and increased combined fund balances from $13.066 million to $16.659 million.
Director Turk presented year-end figures through December showing total All Funds revenue collected of $35,495,991 (99.7% of the $35,609,537 budget) and total expenditures of $31,902,616 (90.1% of the $35,405,165 budget). The General Fund exceeded revenue expectations at 100.6% of budget. For 2025, income tax collections totaled $13,024,949 (up 4.4% versus 2024); the transcript records that December collections were down 10.3% month-over-month.
Council accepted an anonymous $10,000 donation to the Meals on Wheels program on a motion from Councilmember Philippbar, seconded by Councilmember Jeff Stoppenhagen; the motion passed unanimously. Director Turk said staff aim to close the 2025 books by Friday, Jan. 9, 2026, and are preparing W-2s and 1099s for distribution.
The minutes do not include further detail on how the donation will be administered beyond its designation for Meals on Wheels.
