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Committee advances $1.12M in new revenues and appropriation amendments, OKs moving financing for road equipment to council
Summary
The Finance & Property committee reviewed appropriation amendments reflecting $1,123,850 in new revenues (largely grants), discussed grant accounting and reimbursements, approved requests for street equipment rentals and repairs, and moved appropriation and equipment-financing items to the full council.
The Finance & Property committee advanced a package of appropriation amendments and revenue adjustments that together reflect roughly $1,123,850 in new revenues and $868,200 in proposed appropriations for 2026. Officials said much of the increase reflects grant activity, which the city records as advances and reimbursements, producing multiple line‑item entries.
"We're going to have new revenues come in of $1,123,850," Finance & Property presenter Liam McClester said, describing the accounting for grants and reimbursements. He told the committee the city received a portion of a $294,000 Price Park grant and will record corresponding entries in the grant fund and general fund to reflect reimbursements.
The amendments also included $27,445 from a NOET grant earmarked for energy-efficiency projects; staff said those funds will pay for LED lighting upgrades at the park garage, the service center and Price Park. The committee discussed street-department needs: an $8,600 payroll addition to cover expected overtime after winter work, renting a street reaper this spring (with a 45% credit toward a future purchase), and a $34,250 repair to a damaged salt dome with an anticipated insurance reimbursement of $20,800.
Separately, committee members reviewed financing terms for a planned 2026 Workin W60RI milling machine purchase, saying the city intends to lock a 4.9% interest rate with Huntington Capital Corporation to secure favorable financing.
A motion to add the appropriation and related items (item 4A) to the full council agenda was moved, seconded and carried by voice vote. The committee also moved the energy-efficient lighting grant authorization (item 4B) and the milling-machine financing (item 4C) to the council agenda for final action.
The committee did not approve final appropriations or equipment purchases at the committee level; those decisions will be made by the full council after readings and any further amendments.
