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College Place finance staff review 2025 year‑end: COVID aid, delayed capital projects and debt position
Summary
Finance presenter Brian Carlton told council the city’s 2025 report was filed on time; he cited $2.6 million in federal COVID relief received in 2021–22, capital spending that lagged planned amounts (notably the wastewater project), $5.4 million in TIF reserves for four projects, roughly $33 million in outstanding loans and that some funds are below reserve targets.
Finance presenter Mr. Carlton reviewed the City of College Place’s 2025 year‑end financial report and answered council questions about revenue timing, capital delays and reserve targets.
Carlton said the city filed its annual report to the state by the May 30 deadline and the submission was accepted: "We reported on time and was accepted by the state," he told the council. He presented a multi‑year view showing modest growth in ending fund balance and said $2.6 million in federal COVID relief arrived in two tranches in 2021 and 2022 and helped bolster balances in the intervening years.
The presentation emphasized timing‑related variances: several major capital projects anticipated in the budget did not fully occur in 2025, producing positive variances in budget‑to‑actual capital spending but delaying expected grant reimbursements. Carlton cited the wastewater treatment plant as an example: the full project was budgeted at about $26 million, but the city spent roughly $6 million on it in 2025 while the remaining work and associated grant reimbursements were delayed.
Carlton also described the city’s TIF (tax increment financing) balance of about $5.4 million, earmarked for four main projects — roadway and infrastructure elements including Mijani Road, a main water line, a water tower and an east‑west road/traffic circle — and a parking lot acquired near the high school. He told council total capital spending for 2025 was about $15.5 million and summarized grant support for several projects.
On liabilities, Carlton said the city had approximately $33 million in outstanding loans and about $16.3 million in utility debt, with the city well under constitutional debt limits. He reviewed reserve targets and noted some funds (including the street fund and certain maintenance reserves) were below policy targets because of timing and reimbursement delays. Carlton said the 2024 audit concluded with no findings and no management letter, and he described a small number of exit items the city is addressing.
Council members asked for clarifications on interfund transfers, the composition of the variances, miscellaneous expenditure lines and whether 2026 will reverse the recent pattern of expenses outpacing revenues. Carlton said he is preparing a 2026 forecast and will share it with council when complete. Several council members thanked Carlton for the work; no formal action or vote was taken at the workshop.
The council recessed to an executive session under RCW 42.30.110(1)(h) to evaluate the performance of a public employee, returned with no action taken, and adjourned the workshop at about 7:01 p.m.
