Annual Town Board Meeting — Documents

TOWN OF NEW GLARUS FINANCIAL STATEMENT OVERVIEW APRIL 2026 ANNUAL MEETING For the Year Ended December 31, 2025 Town Annual Meeting Requirements  Annual Finan cial Statements – required per Section 60.41 of State Statutes. o Statement of financial condition (Balance Sheet) o Previous year’s revenues and expenditures (Statement of Revenues and Expenditures ) o Current Indebtedness of the Town (Included Below) 2025 2024 2,351,951$ 2,748,031$ 18,089,190$ 17,016,785$ 13.00% 16.15% Year Principal Interest Total 2026 405,343$ 91,127$ 496,470$ 2027 427,594 81,598 509,192 2028 115,984 70,090 186,074 2029 121,787 64,287 186,074 2030 127,690 58,384 186,074 2031-2032 1,153,553 98,662 1,252,215 Total 2,351,951$ 464,148$ 2,816,099$ DEBT ANALYSIS Capacity Used General Obligation Debt Outstanding General Obligation (G.O.) Debt December 31 Total G.O. Debt Capacity December 31 Debt Principal and Interest Payments to Maturity 2025 2024 Cash 1,717,039$ 2,017,364$ Taxes Receivable 664,230 577,884 Other Assets 10,677 8,036 Total Assets 2,391,946$ 2,603,284$ Current Liabilities 191,049$ 75,486$ Grant Advance - ARPA - 46,672 Total Liabilities 191,049 122,158 Tax Levy 1,007,360 1,072,649 Total Deferred inflows 1,007,360 1,072,649 Total Fund Balance 1,193,537 1,408,477 Total Liabilities, Deferred Inflows and Fund Balance 2,391,946$ 2,603,284$ Nonspendable 9,377$ 6,839$ Restricted 68,862 251,040 Committed 69,339 68,674 Assigned 801,058 713,215 Unassigned 244,901 368,709 1,193,537$ 1,408,477$ Unassigned general fund balance 244,901$ 368,709$ Subsequent year general fund budget (original) 4,221,600$ 4,172,561$ Percent of unassigned fund balance to next year's budget - Total 5.80% 8.84% Percent of unassigned fund balance to next year's budget - No Capital 13.77% 25.06% 2025 2025 Final Amended Budget Budget Actual Revenues 1,434,979$ 1,463,957$ Expenditures 4,172,561 2,178,697 Other financing sources (uses) 2,150,000 499,800 Net change in fund balance (587,582)$ (214,940)$ Summarized Income Statement General Fund Assets TOWN OF NEW GLARUS 2025 Financial Statement Highlights Liabilities, Deferred Inflows and Fund Balance Summary of General Fund Balance Nonspendable Prepaid Expenses 9,377$ Total Nonspendable Fund Balance 9,377$ Restricted Impact Fees 28,862$ Library MOU Contribution 40,000 Total Restricted Fund Balance 68,862$ Committed Community Partnership Sinking Funds 7,618$ Town Park/Trail Sinking Funds 61,721 Total Committed Fund Balance 69,339$ Assigned Equipment Purchases 60,604$ Town Hall 11,900 Fire/EMS Future Capital 26,411 Debt Service 150,000 Public Works Building 552,143 Total Assigned Fund Balance 801,058$ Unassigned Fund Balance 244,901$ Total Fund Balance 1,193,537$ TOWN OF NEW GLARUS 2025 Financial Statement Highlights General Fund Budget to Actual Comparison Detail of General Fund Balance Budgeted Amounts Actual Amounts, B udgetary Basis Variance with Final Budget - P ositive (Negative) Original Final REVENUES Property Taxes 948,674$ 948,674$ 952,486$ 3,812$ Other Taxes 2,200 2,200 945 (1,255) Intergovernmental 267,555 267,555 250,376 (17,179) License and Permits 37,200 37,200 45,403 8,203 Public Charges for Services 140,350 140,350 124,079 (16,271) Interest Income 39,000 39,000 82,136 43,136 Miscellaneous Income - - 8,532 8,532 Total Revenues 1,434,979 1,434,979 1,463,957 28,978 EXPENDITURES Current: General Government 277,140 277,140 358,806 (81,666) Public Safety 134,368 134,368 135,337 (969) Public Works 524,267 524,267 556,408 (32,141) Culture, Recreation and Education 35,000 35,000 18,383 16,617 Conservation and Development 4,000 4,000 - 4,000 Capital Outlay 2,701,400 2,701,400 612,448 2,088,952 Debt Service: Principal Repayment 396,175 396,175 396,080 95 Interest Expense 100,210 100,210 101,235 (1,025) Total Expenditures 4,172,560 4,172,560 2,178,697 1,993,863 Excess (Deficiency) of Revenues Over Expenditures (2,737,581) ( 2,737,581) (714,740) 2,022,841 OTHER FINANCING SOURCES (USES) Proceeds from Sale of Capital Assets 650,000 650,000 499,800 (150,200) Proceeds from Long-Term Debt 1,500,000 1,500,000 - (1,500,000) Total Other Financing Sources (Uses) 2,150,000 2,150,000 499,800 (1,650,200) Excess (Deficiency) of Revenues Over Expenditures and Other Financing Sources (587,581) (587,581) (214,940) 372,641 Net Change in Fund Balance (587,581) (587,581) (214,940) 372,641 Fund Balance - Beginning of year 1,408,477 1,408,477 1,408,477 - Fund Balance - End of year 820,896$ 820,896$ 1,193,537$ 372,641$