Treasurer Miss Miles reported to the Middleton City Council on Dec. 3 that unaudited fiscal year 2025 revenues totaled $29,270,970, about $1.23 million above the $28,042,820 budgeted, driven largely by higher-than-expected commercial activity and building-permit receipts.

Miles said the city’s actual spending through the year was $14,712,973 against a budgeted $28,042,820, a variance she attributed to several items that were budgeted but not spent: anticipated council pay increases, higher-than-needed engineering budgets, an additional school resource officer position requested by local schools that was not funded by the district, and postponed park improvements (including planned pickleball courts). She noted wastewater and water funds are saving for a treatment plant project and that some large transportation items — such as land purchases for a planned roundabout at Lincoln and Middleton Road and a turn lane project later absorbed by a developer agreement — were moved into the coming year.

Miles walked council members through an Excel fund-by-fund cash breakdown showing where money is held (checking, money market, a local government investment pool and emergency reserves), and a separate tab that distinguishes committed versus uncommitted balances. She cautioned that a transportation fund uncommitted balance of about $1,700,000 does not reflect an outstanding $2,000,000 need for sewer and water upgrades on Harmon and First Street that staff expect will be paid from that fund when processed.

Council members asked whether any final invoices remain outstanding and whether those will carry into FY2026; Miles said most major projects are complete but conceded occasional late invoices can appear and that some projects were intentionally pushed into 2026. She recommended using the fund-commitment breakdown as a decision tool during the FY2027 budgeting process.

The council did not take separate action on the financial update; Miles said the city’s audit engagement for the FY2025 year is scheduled to begin Dec. 15 and that numbers could change slightly once auditors complete depreciation and other adjustments.