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Coralville council adopts FY2026 budget amendment to cover major capital projects
Summary
The Coralville City Council adopted a Fiscal Year 2026 budget amendment May 26, 2026 to adjust program-level appropriations for several capital projects — including Gather Iowa, water wells, and the Recreation Center design — and to recognize updated revenues and reimbursements.
The Coralville City Council on May 26, 2026 adopted a Fiscal Year 2026 budget amendment that reallocates program-level appropriations to cover increased capital spending, reserve uses and timing differences in revenues.
Finance Director Ann Hester told the council the amendment responds to higher-than-anticipated capital project costs, use of reserve funds and timing differences in premiums and reimbursements. She identified the largest capital items driving the amendment: Gather Iowa (about $1.4 million), Wells 16 and 17 (about $1.3 million), the new Recreation Center design and planning (about $1.2 million), the Youth Sports Park ($908,000) and the Stream Bank Mitigation project ($585,000). Hester also listed program-level adjustments including Brown Deer Golf Club equipment replacement (about $399,000) and the purchase of property intended for a future parking lot ($300,000).
Hester said the amendment also reflects revenue shifts: reimbursements and receipts tied to capital projects (anticipated reimbursements just over $2 million), a $464,000 payment from the Hyatt under its agreement with the city, and other license, permit and trust receipts. Mayor Laurie Goodrich opened a public hearing on the amendment; there were no oral or written comments. The council approved Resolution No. 2026-72 adopting the amendment.
Why it matters: the amendment permits the city to match spending authority at the program level to actual project needs and to record revised revenue forecasts ahead of audit and state filing. Hester noted the amendment must be filed with the State by May 31, 2026.
Council members asked clarifying questions about specific items — for example, whether Hyatt payments reflected better hotel performance or simply cash received under the contract — and staff responded that the $464,000 represents cash distributed to the city under the existing agreement. The amendment also includes regrouping of capital projects, debt service and enterprise activity to aid audit presentation.
