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STAFF REPORT <br />DATE: April 21, 2026 <br />TO: Mayor and Council <br />FROM: Clarissa Hadler, Finance Director <br />Nina Kraemer, Finance Coordinator <br />AGENDA ITEM:1st Quarter Financial Reports <br />CORE STRATEGIES <br />☐ Vibrant, inclusive, connected community ☐ Efficient, reliable, innovative services <br />☐ Responsive, transparent, adaptive governance ☒ Balanced Finances now and future <br />☐ Managed Growth <br />BACKGROUND <br />Staff has prepared the 1st Quarter Financial Report for review by the City Council. <br />ISSUE BEFORE THE COUNCIL <br />Does the City Council have any questions about the 1st Quarter Financial Report? <br />DISCUSSION <br />The Budget vs. Actual for 1st Quarter 2026 is attached. YTD revenues and expenditures will fluctuate <br />widely throughout the year depending on peak periods for each activity. Below are a few general notes <br />regarding various items. <br />Revenues <br />Tax revenues are receipted in July and December. <br />General Fund non-tax revenues are expected to be higher this year compared to last year mainly due to <br />increased building permits due to the two school construction projects. Activity has started picking up <br />as we approach warmer weather. <br />Utility Bills are reflected the following quarter due to the timing of mailings and payments. <br />Interest earnings are typically allocated at year-end. <br />Staff is still working on the new process for booking CloudPermit revenues to the new BS&A software, <br />so permitting fees are not included. <br />Expenditures <br />Expenditures reflect a combination of ongoing expenses and items that are one-time payments per year. <br />As such, year-to-date percentages on expenses other than personnel will fluctuate significantly. <br />Additional information regarding planned/budgeted changes is available in the 2026 Budget reports from <br />the December 16, 2025 Council meeting, or upon request. <br />ATTACHMENTS: <br />1)Quarterly Financial Report