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Glenwood City finance staff reviews FY26 budgets, warns aquatic fund shortfall and schedules FY27 workshop
Summary
City finance staff outlined FY26 revenues and expenditures across major funds — general fund ($3.3M revenue), LOST ($680K), road use tax and debt service — highlighted a negative aquatic fund balance and CDBG downtown match shortfall, and said a FY27 budget workshop is set for Feb. 7, 2026.
Mitch, the citys finance presenter, told the Glenwood City Council the general fund is the citys main operating account, with FY26 revenues about $3.3 million driven chiefly by a $1.7 million general property tax levy and $410,000 in EMS billing. He said general fund operating expenditures were budgeted at roughly $3.4 million, with the largest department budgets for police ($984,000) and fire/EMS ($819,000).
The presentation provided a fund-by-fund refresher and flagged items planned for a consolidated FY26 budget amendment. Mitch said the local option sales tax (LOST) revenue for the city is budgeted at $680,000 for FY26, plus $25,000 from other county cities for the wellness center. He explained that following a recent election the city adopted an expanded LOST purpose (effective January 2026), permitting LOST dollars to be used for police, fire, the Mills County Wellness Center, or any lawful purpose the council approves — a change from the prior, narrower use tied primarily to the YMCA/pool.
Mitch said the aquatic center fund — long supported by LOST transfers and user fees — shows a negative balance of about $26,000 currently and that FY26 pool operating revenue will be set to zero in the revised budget because the pool remains closed. He told council most FY26 aquatic expenditures are now limited to potential emergency repairs and litigation fees; staff plan to transfer budgeted LOST funds and other transfers at year end to correct the negative balance.
On capital and grant funds, Mitch reviewed the CDBG downtown revitalization project, noting the project budget rose to $1.2 million and the citys final match is $320,000, requiring additional transfers in the amended FY26 budget. He also summarized the ARPA, urban renewal/TIF and road use tax funds and identified several previously approved items that still need to be added into an amendment (July pay raises, police and fire grants, building repairs, demolition of 405 North Grove, and other department grants and contract items).
Tim, the finance committee summary speaker, reiterated Mitchs key points and reminded council members that a FY27 budget workshop is scheduled for Saturday, Feb. 7, 2026, at 9 a.m. He also said the LOST expansion will materially affect the LOST fund moving forward and that council will consider how best to deploy remaining GO bond savings and other one‑time balances.
The presentation closed with department-level questions — including how street projects might be prioritized, equipment replacement timing and the process for recording maintenance — and with an assurance that detailed bond amortization schedules and project lists would be provided at the upcoming workshop.
The council did not take a final binding vote on the full FY27 tax rate at the meeting; Mitch said a small decrease in the rate is possible and that exact numbers will be presented at the workshop.
