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Finance director reports December 2025 results; council flags impact fee drawdown risks
Summary
Finance Director Alberta Barrett presented December 2025 financials showing general fund revenues at roughly 20% of budget and flagged utility impact fees and multi‑year transfers to the utility fund that could draw down the impact fee balance to about $6M by 2029 under current assumptions; council asked for a work session to scrutinize long‑range assumptions.
Alberta Barrett, the city’s finance director, presented the December 2025 financial report and walked council through general fund, EDC and utility fund summaries and cash/investment positions.
"As of December, excuse me, we were at about 20% at 7,167,166," Barrett said in summarizing year‑to‑date general fund revenues. She noted sales tax is tracking about 3% under budget year‑to‑date and described transfers planned from the utility impact fee fund to cover debt service over multiple years; under current projections the impact fee fund balance could fall from nearly $29M to just over $6M by 2029.
Council members responded with questions about growth rate assumptions, how conservative the projections are and asked for a dedicated work session to dive into assumptions — particularly the effect on water/wastewater rates and the city’s long‑term obligations. Staff agreed to schedule a workshop to validate growth assumptions and funding strategies for future years.
