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Hayward council approves FY2025 annual, street finance and urban renewal reports
Summary
The council approved the FY2025 annual financial report, FY2025 street finance report (noting about $373,000 in RUT funds), and the FY2025 urban renewal report; multiple resolutions and appointments also passed unanimously.
At its Nov. 12 meeting the Hayward City Council approved a set of annual financial reports and several resolutions required by state reporting and intergovernmental participation.
City staff presented the FY2025 annual financial report (AFR), noting that actual revenues exceeded budget estimates while expenses were also higher than budgeted, in part due to recent flood-related costs. The council approved the AFR by voice vote; staff said the report will be submitted to the State of Iowa.
The FY2025 street finance report passed by roll call; Jacob said the city had about $373,000 in RUT (road-use tax) funds available for legal uses to maintain and improve streets. The council also approved the FY2025 urban renewal (TIF) report; staff noted a temporary negative TIF balance from a prior-year audit adjustment that will be corrected in the current fiscal year.
Other unanimous items included Resolution 2025-9 (updating the city's Missouri River Energy representative), Resolution 2025-20 (an amendment to a firm electric contract related to WAPA to reflect a recent asset sale), and Resolution 2025-21 to set a public hearing on disposal of an industrial-park parcel to SD Construction (packet listed a purchase price of 16,759 and construction timing conditions). These items passed by roll call votes of 4–0.
Council asked for clarification where needed and approved the reports and resolutions as presented.
