$31,262,463received from selling tangible capital assets in 2024, per the City's cash flow statement
In 2024 the City's statements show a one-time gain of $30,077,448 from selling assets, almost all of it in recreation and culture. That is why the 2024 surplus was $65,343,374, compared with $36,506,653 in 2025. The Economic Development reserve fund, which the 2026 budget says holds land sale proceeds, then fell by about $7.9 million in 2025. The statements and budget we read do not name the property, the buyer or the price.
$91,491,955forecast closing debt for 2035, against $66,343,138 at the end of 2025
The City owed $66,343,138 at the end of 2025. Its 2026 budget forecasts that debt dips to $60,981,951 at the end of 2026, then climbs to $83,742,898 by 2028 and $91,491,955 by 2035, with new borrowing of $14,000,000 a year from 2029. The forecast assumes the City's own revenue grows about 6% a year.
$5,545,210fall in reserves and reserve funds in 2025, worked out by us from $80,499,146 to $74,953,936
The City's reserves and reserve funds (savings set aside for later) fell from $80,499,146 to $74,953,936 in 2025. The 2026 budget forecasts a small rise to $74,409,532 by the end of 2026, but only because $9,892,377 of anticipated receipts is counted in. Without those receipts, the same forecast would show about $8.5 million less (worked out by us). In the December 3, 2025 budget meeting, a councillor said the City was relying too much on debt and reserves.
$1,726,412increase in the fire department's salaries and wages line, 2026 budget over 2025 budget (18.9%, worked out by us)
Salaries, wages and employee benefits rose from $44,121,080 in 2024 to $48,757,793 in 2025. For 2026 the Mayor directed staff to keep existing services "without adding new programs or staff", yet the fire department's salaries and wages line rises from $9,131,963 to $10,858,375 and its net cost to the tax levy rises $1,872,498. The budget book adds one fire prevention officer through a council amendment but gives no note on the rest of the rise.