B. FY25 End of Year and FY26 Mid-Year Financial Update

City Commission · 2026-06-08 · agenda_item

This agenda item is a financial update for the City of Wildwood, presented by Assistant City Manager/CFO Smith. The report covers Fiscal Year 2025 results and a Fiscal Year 2026 mid-year projection. For FY25, the General Fund had revenues exceeding budget by approximately $6 million, with an ending balance of $9.259 million. The Utility Fund had unexpended budget of $1.636 million and an ending balance of $10.171 million. For FY26, the General Fund is projected to exceed budget by $1.398 million, and the Utility Fund shows water sales at 102% and sewer sales at 94% of budget. Budget amendment recommendations include adding police positions, transferring funds to the Capital Improvement Fund, amending the Capital Fund for a park playground, increasing the Community Center budget, and allocating $200,000 for an iron filtration project on County Road 501. This item is currently under review as part of a financial update and budget amendment process. The work described involves potential capital improvements and infrastructure projects, including playground equipment and water system upgrades. Contractors, suppliers, and service providers in construction, utilities, and related fields should monitor upcoming bid opportunities as these projects move forward. Early engagement with city officials could provide insight into project timelines and specifications.

improved financial position

6 million

General Fund ending balance

9.259 million

General Fund projected balance

7.5 million

available excess

1.759 million

Utility Fund unexpended budgeted expenditures

1.636 million

Utility Fund unencumbered ending balance

10.171 million

Utility Fund projected balance

9 million

available in reserves

1.171 million

General Fund projected excess

1.398 million

police officer positions

8

increased starting salaries

68000

General Fund to Capital Improvement Fund transfer

500000

Community Center budget increase

100000

Water SDC fund amendment

200000

City Manager's purchasing authority

20000

increased City Manager's purchasing authority

50000