B. Keith Smith, Finance Director

City Council · 2026-04-21 · agenda_item

The City of West Melbourne is reviewing its Annual Comprehensive Financial Report (ACFR) for the fiscal year ending September 30, 2025. This report details the city's financial performance, including increases in net position for the overall city and the Water and Sewer Enterprise Fund. The report also outlines planned uses of fund balance for future capital needs, such as the Council Chambers project, Public Works Administration building, and community redevelopment projects. The city's independent auditors, Carr, Riggs & Ingram, LLC, have completed their audit and issued an unmodified opinion. This item is currently under review by the City Council, with a recommendation to receive and file the report. While this is a financial reporting item, the mention of planned capital initiatives and ongoing construction activity within the Water and Sewer Enterprise Fund suggests potential future opportunities for contractors, suppliers, and service providers involved in infrastructure and construction projects. Early engagement with city planning departments could provide insights into upcoming needs.

Fiscal Year ended

2025

Net position increase

14,367,949

Water and Sewer Enterprise Fund net position increase

11,310,081

Water and Sewer Enterprise Fund operating activities cash flow

8,333,180

Water and Sewer Enterprise Fund capital and related financing activities cash flow

44,082,662

Water and Sewer Enterprise Fund investing activities cash used

2,082,196

Water and Sewer Enterprise Fund total cash and cash equivalents

60,730,731

Water and Sewer Enterprise Fund unrestricted cash

1,724,514

Water and Sewer Enterprise Fund restricted cash

59,006,217

Water and Sewer Enterprise Fund unrestricted net position

34,263,637

Water and Sewer Enterprise Fund total bonded debt outstanding

54,570,300

Series 2024D Revenue Bond

54,055,000

Series 2014D Revenue Refunding Bond remaining

515,300

General Fund total fund balance increase

1,516,951

General Fund total fund balance

31,975,302

General Fund unassigned fund balance

22,543,149

General Fund annual expenditures reserve policy

20 %

General Fund total expenditures 9/30/2025

21,627,087

General Fund total expenditures 9/30/2024

16,016,307

General Fund total expenditures 9/30/2023

14,761,117

West Melbourne- Brevard County Joint Community Redevelopment Agency tax increment revenues

718,994

West Melbourne- Brevard County Joint Community Redevelopment Agency fund balance

3,612,989

Recreation Special Revenue Fund committed fund balance

1,898,524

Recreation Special Revenue Fund revenues

56,573

Recreation Special Revenue Fund expenditures

179,145

Stormwater Utility Fund fund balance

2,267,183

Capital Projects Fund revenues

176,608

Capital Projects Fund expenditures

2,709

Capital Projects Fund fund balance

4,054,162

Capital Projects Fund fund balance increase

173,899

Vehicle Replacement Fund investment earnings

64,159

Vehicle Replacement Fund transfers

314,500

Vehicle Replacement Fund capital expenditures

542,458

Vehicle Replacement Fund fund balance

2,706,701

Police Pension Trust Fund assets 9/30/2024

22,958,176

Police Pension Trust Fund assets 9/30/2025

25,799,077

Police Pension Trust Fund liability 9/30/2024

22,748,630

Police Pension Trust Fund liability 9/30/2025

24,842,342

Police Pension Trust Fund net pension asset

956,735

Police Pension Trust Fund fiduciary net position percentage

103.85 %

General Fund net change in fund balance 9/30/2025

1,516,951

General Fund net change in fund balance 9/30/2024

5,431,744

General Fund net change in fund balance 9/30/2023

5,653,766

General Fund revenues 9/30/2025

21,464,807

General Fund expenditures 9/30/2025

21,464,807

General Fund revenues 9/30/2024

21,627,087

General Fund revenues 9/30/2023

20,637,049

General Fund expenditures General government 9/30/2025

4,008,334

General Fund expenditures Public safety 9/30/2025

8,453,147

General Fund expenditures Public works 9/30/2025

1,851,292

General Fund expenditures Recreation 9/30/2025

1,366,939

General Fund expenditures Community development 9/30/2025

556,224

General Fund expenditures Capital outlay 9/30/2025

992,614

General Fund expenditures Debt service 9/30/2025

15,210

General Fund expenditures General government 9/30/2024

3,252,132

General Fund expenditures Public safety 9/30/2024

7,782,846

General Fund expenditures Public works 9/30/2024

1,618,627

General Fund expenditures Recreation 9/30/2024

1,312,628

General Fund expenditures Community development 9/30/2024

494,876

General Fund expenditures Capital outlay 9/30/2024

1,529,505

General Fund expenditures Debt service 9/30/2024

25,693

General Fund expenditures General government 9/30/2023

2,387,235

General Fund expenditures Public safety 9/30/2023

7,039,582

General Fund expenditures Public works 9/30/2023

1,295,685

General Fund expenditures Recreation 9/30/2023

926,820

General Fund expenditures Community development 9/30/2023

343,124

General Fund expenditures Capital outlay 9/30/2023

749,923

General Fund expenditures Debt service 9/30/2023

0

General Fund net other financing sources (uses) 9/30/2025

(2,704,096)

General Fund net other financing sources (uses) 9/30/2024

(179,036)

General Fund net other financing sources (uses) 9/30/2023

(222,166)