04.16.2026 CITY COUNCIL AGENDA

136 North Monroe Street Waterloo, Wl 53594 Phone: (920) 478-3025 Fax: (920) 478-2021 www.waterloowi.us CITY OF WATERLOO COUNCIL AGENDA COUNCIL CHAMBER OF THE MUNICIPAL BUILDING - 136 N. MONROE STREET Thursday, April 16, 2026 — 7:00 p.m. Pursuant to Section 19.84 Wisconsin Statutes, notice is hereby given to the public and news media, that a public meeting will be held to consider the following: 1.) CALL TO ORDER, PLEDGE OF ALLEGIANCE AND ROLL CALL 2.) MEETING MINUTES APPROVAL: April 2, 2026 3.) PRESENTATIONS AND REPORTS a. 2025 Baker-Tilly Audit 4.) COUNCIL NOTICE -PUBLISHED NOTICES a. Notice to Cut or Destroy Noxious Weeds b. Board of Review 5.) CITIZEN INPUT / PUBLIC COMMENT (3-Minute time limit) 6.) MEETING SUMMARIES (since last Council meeting) a. 04/07/2026 Water & Light b. 04/16/2026 Finance, Insurance and Personnel 7.) CONSENT AGENDA ITEMS a. Reports of City Officials & Contract Service Providers i. Parks ii. Fire & Emergency Medical Services iii. Building Inspections iv. Public Works V. Police Vi. Library Board Vil Water & Light Utility Commission Viii. Watertown Humane Society ix. CableTV 8.) OLD BUSINESS a. Resolution 2026-14 Reallocating 2026 Payroll Budget Funds to purchase Records Management System with Additional Computer-Aided Dispatch 9.) NEW BUSINESS a. Resolution 2026-13 2025 Carry-over 10.) RECOMMENDATIONS OF BOARDS, COMMITTEES, AND COMMISSIONS a. Finance i. March 2026 Financial Statements: Payroll $98,541.73, General Disbursements $420,136.42 and Clerk/Treasurer's Reports [see on municipal website 11.) FUTURE AGENDA ITEMS AND ANNOUNCEMENTS 12.) ADJOURNMENT Jeanne Ritter Clerk/Deputy Treasurer Posted & Emailed: 04/14/2025. PLEASE NOTE: It is possible that members of and possibly a quorum of members of other governmental bodies of the municipality may be in attendance at the above meeting(s) to gather information. No action will be taken by any governmental body other than that specifically noted. Also, 411412026 3:06 PM upon reasonable notice, efforts will be made to accommodate the needs of disabled individuals through appropriate aids and services. For additional information or to request such services please contact the clerk’s office at the above location 411412026 3:06 PM 1) 7) 8) CITY OF WATERLOO COMMON COUNCIL - MEETING MINUTES: March 5, 2026 [a digital recording of this meeting also serves as the official record] CALL TO ORDER, PLEDGE OF ALLEGIANCE & ROLL CALL. Mayor Quimby called the meeting to order at 7:05 p.m. Alderpersons present: S. Cummings, A. Kuhl, C. Kuhl, R. Griffin, T. Thomas, J. Haseleu and R. Weihert. Absent: J. Haseleu. Others attending in-person: Police Chief Warner; DPW Director Yerges; Parks Coordinator Haberkorn; Fire Chief Butzine; Officer Regenhauer; Treasurer Nelson; Clerk Ritter; Representative Fitzgerald and WLOO Videographers. The Pledge of Allegiance was recited. MEETING MINUTES APPROVAL: March 19, 2026 Motion [Cummings/Weihert] VOICE VOTE: Motion carried. LEGISLATIVE UPDATE CITIZEN INPUT / PUBLIC COMMENT (3-Minute time limit)-none MEETING SUMMARIES (since last Council meeting) 03/23/2026 Fire/EMS 03/24/2026 Plan Commission 03/25/2026 Library Board 04/01/2026 Parks Commission 04/02/2026 Public Safety -Cancelled 04/02/2026 Public Works and Property-Cancelled RECOMMENDATIONS OF BOARDS, COMMITTEES, AND COMMISSIONS NEW BUSINESS a. Events i. Trek 100 ii. Cinco De Mayo iii. Farmers Market iv. Spooktacular V. Wiener and Kraut Motion to approve all events [Cummings/A.Kuhl] VOICE VOTE: Motion carried. b. Council Handbook-informational only [ Police Dept. looking to Reallocate Funds from Payroll to Records Management System in addition to Computer Aided Dispatch Motion [Haseleu/C.Kuhl] ROLL CALL Yes-7 No-0. Motion carried. d. Resolution 2026-15 Hiring of LT for the Police Dept. [The City Council may convene in closed session per Wis. Stat. 19.85(1)(c) “considering employment, promotion, compensation or performance evaluation data of any public employee over which the governmental body has jurisdiction or exercises responsibility.”] FUTURE AGENDA ITEMS AND ANNOUNCEMENTS ADJOURNMENT Motion[ A.Kuhl/C.Kuhl] VOICE VOTE: Motion carried. Attest: Jeanne Ritter Clerk/Deputy Treasurer City of Waterloo Financial highlights April 16, 2026 Client service team Justin Hoagland, Principal Taylor Voegeli, Manager Jimmy Klein, Associate ©2025 Baker Tilly US, LLP @ bakertilly City of Waterloo General fund results w2024 #2025 General fund - fund balance by category 2,034,427 Total $2,352,591 Unassigned $1.724, 399$2 036,477 hssignea [ 50110 Committed & Restricted = ¥ $13,258 Nonspendable $20,443 $- $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 Summarized income statement Actual Final budget Variance Revenues and other financing sources $ 2,709,402 $ 2,530,788 $ 178,614 Expenditures and other financing uses 2,390,938 2,565,788 174,850 Net change in fund balance $ 318,464 $ (35,000) $ 353,464 Fund balance category definitions Nonspendable - amounts cannot be spent either because they are not in spendable form or because legal or contractual requirements require them to be maintained in tact. Restricted - amounts that can be spent only for the specific purposes stipulated by an external source. Committed - amounts constrained for specific purposes that are internally imposed through formal action of the governing body. Assigned - spendable amounts that are intended to be used for specific purposes that are not considered restricted or committed. Unassigned - residual amounts that have not been classified within other categories above. ©2025 Baker Tilly US, LLP Source: current and prior year financial statement information and other benchmark information as noted Page 1 @ bakertilly City of Waterloo General fund - fund balance trends Fund balance policy: The policy is to maintain a working capital fund of 25% - 33% of the current year general fund final budgeted expenditures. The balance at year-end was $2,036,477 or 79%. The graph below includes both unassigned and assigned fund balance, which is why it's showing 97.5% at year-end. —8—General Fund Actual —— Policy minimum ===Policy maximum @® Reference - Median Unrestricted general fund - fund balance as a percentage of expenditures 110% 100% 90% / 97.5% 86.6% 80% 80.4% 70% 63.8% 50% 60% / 52.7% 38.9% 38.3% 40.6% 39.9% 40% - 5 . 30% 20% 10% 2021 2022 2023 2024 2025 Other reference values GFOA recommends a minimum of no less than 2 months (16.7%) of general fund expenditures. Median reference value generated from 2021 - 2024 Baker Tilly municipal client data for population range of under 10,000. ©2025 Baker Tilly US, LLP Source: current and prior year financial statement information and other benchmark information as noted Page 2 J bakertilly City of Waterloo General obligation debt Debt management policy: The City does not currently have a debt management policy. Legal debt margin capacity (5% of the city's total equalized value). Actual percentage of debt limit at 12/31/25: 21% —@—Total G.O. debt outstanding ~ ==@==G.0. debt limit General obligation debt capacity $25,000,000 $19,993,575 $18,700,155 $20,000,000 $17,179,060 $15,747,320 $15,000,000 $13,333,770 $10,000,000 $5,000,000 / PN —o $4,866,831 $4,372,733 $3,872,314 $4,178,339 . $3,610,570 2021 2022 2023 2024 2025 Total debt outstanding by type at 12/31/2025 General obligation Revenue debt Other Total City $ 3,808,339 $ - $ - $ 3,808,339 Utility 370,000 26,766,425 - 27,136,425 Other - - - - Total § 4,178,339 $ 26,766,425 $ - $ 30,944,764 Comparative metrics available online through the Wisconsin Policy Forum. https://wispolicyforum.org/research/municipal-datatool-examining-and-comparing-wisconsin-cities-and- villages/ Select "Debt" -- options for custom comparisons or comparisons by county ©2025 Baker Tilly US, LLP Source: current and prior year financial statement information and other benchmark information as noted Page 3 City of Waterloo Governmental funds - debt service @ bakertilly —8—City of Waterloo ® Reference - Median Debt service to non-capital expenditures 30.00% \27.1% 25.00% 20.00% ® 16.6% 15.00% ® 143% — 12.9% 12.0% 10.00% 5.00% 0.00% 2021 2022 Current and prior year data 2025 Principal $ Interest 436,975 2023 2024 $ 455,419 101,632 Total $ $ 557,051 Non-capital expenditures $ 4,399,513 $ 4,311,682 Other reference values 2024 2025 Median reference value generated from 2021 - 2024 Baker Tilly municipal client data for population range of under 10,000. © 2025 Baker Tilly US, LLP Source: current and prior year financial statement information and other benchmark information as noted. Page 4 @ bakertilly Waterloo Water & Light Commission Operating results $9,000,000 750378 7,575,247 1759; 8,000,000 7,406,547 7,022,073 $7,000,000 6,158,716 $65,000,000 6371332 $5,000,000 5,733,215 5,815,301 5,549,905 4,000,000 4,920,121 $3,000,000 $2,000,000 $1,000,000 s 2021 2022 2023 2024 2025 —e—Operatingrevenues =@ Operating expenses Unrestricted Reserves 2021 2022 2023 2024 2025 Year end balance $ 545015 $ 1,067,766 $ 1472866 $ 2,556,522 $ 2,771,544 Months on hand 1.06 1.82 2.39 4.05 4.29 Debt Coverage 2021 2022 2023 2024 2025 Actual 280 3.15 3.63 2.16 249 Required 125 125 125 125 125 Investment in Capital Waterloo Water & Light Commission Electric Utility Results @ bakertilly Operating results 4,728,247 $5,000,000 4,555,111 4,366,771 Y 4,053,003 428,710 I/‘ $4,000,000 ./0 —— $4,069,283 $4,079,701 $4,002,315 54,211,882 $3,000,000 $3,521,494 $2,000,000 $1,000,000 s 2021 202 2023 208 2025 —e—Operating revenues == Operating expenses Water Utility Results Operating results $1,200,000 977,09 939,226 , , $1,000,000 874,609 880,824 ———— 929,783 L — $800,000 $600,000 e . $601,587 $400,000 533,455 $544,365 B $ 476,969 $512,072 $200,000 s 2021 2022 2023 2024 2025 =@—Operating revenues =@ Operating expenses Sewer Utility Results Operating results $2,500,000 2,231,382 Z178,511 2,101,348 $2,000,000 $1,500,000 1,231,104 $1,000,000 e o ~— $1,141,442 51,182,621 $1,003,653 $500,000 $865,172 s 2021 202 2023 208 2025 —@—Operating revenues === Operating expenses @ pakertilly Baker Tilly US, LLP 4807 Innovate Ln PO Box 7398 Madison, WI 53707-7398 T +1(608) 249 6622 F: +1(608) 249 8532 bakertilly.com April 14, 2026 City of Waterloo Lana Nelson 136 N. Monroe St. Waterloo, WI 53594 Dear Ms. Nelson: Please find enclosed an electronic copy of the financial statements of Waterloo Water and Light Commission for the period ended December 31, 2025. An Independent Auditors' Report describing the scope of our work is included with the financial statements. Please feel free to contact us should you have any questions regarding the enclosed statements. Sincerely, BAKERTILLY US, LLP Jodi Dobson, CPA, Principal Enclosures Baker Tilly Advisory Group, LP and Baker Tilly US, LLP, trading as Baker Tilly, are members of the global network of Baker Tilly Intemational Ltd., the members of which are separate and independent legal entities. Baker Tilly US, LLP is a licensed CPA firm that provides assurance services to its clients. Baker Tilly Advisory Group, LP and its subsidiary entities provide tax and consulting services to their clients and are not licensed CPA firms. @ bakertilly Waterloo Water and Light Commission An Enterprise Fund of the City of Waterloo, Wisconsin Financial Statements and Supplementary Information December 31, 2025 and 2024 Waterloo Water and Light Commission An Enterprise Fund of the City of Waterloo, Wisconsin Table of Contents December 31, 2025 and 2024 Page Independent Auditors’ Report 1 Required Supplementary Information Management's Discussion and Analysis 3 Financial Statements Statements of Net Position 12 Statements of Revenues, Expenses and Changes in Net Position 14 Statements of Cash Flows 16 Notes to Financial Statements 18 Required Supplementary Information Schedule of Proportionate Share of Net Pension Asset - Wisconsin Retirement System 46 Schedule of Contributions - Wisconsin Retirement System 46 Notes to Required Supplementary Information 47 Supplementary Information Electric Utility Plant 48 Water Utility Plant 49 Sewer Utility Plant 50 Electric Utility Operating Revenues and Expenses 51 Water Utility Operating Revenues and Expenses 53 Sewer Utility Operating Revenues and Expenses 55 Sewer Utility Statement of Net Position 56 @ bakertilly Independent Auditors' Report To the Utility Commission of Waterloo Water and Light Commission Opinion We have audited the accompanying financial statements of the Waterloo Water and Light Commission (Utility), an enterprise fund of the City of Waterloo, Wisconsin, as of and for the years ended December 31, 2025, and 2024, and the related notes to the financial statements, as listed in the table of contents. In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Waterloo Water and Light Commission as of December 31, 2025 and 2024, and the changes in financial position and cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America. Basis for Opinion We conducted our audits in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standards are further described in the Auditors’ Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Utility and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Emphasis of Matter As discussed in Note 1, the financial statements present only the Utility enterprise fund and do not purport to, and do not, present fairly the financial position of the City of Waterloo, Wisconsin, as of December 31, 2025, and 2024, and the changes in financial position, or cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America. Our opinion is not modified with respect to this matter. Responsibilities of Management for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America; and for the design, implementation and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditors’ Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. Baker Tilly Advisory Group, LP and Baker Tilly US, LLP, trading as Baker Tilly, are members of the global network of Baker Tilly International Ltd., the members of which are separate and independent legal entities. Baker Tilly US, LLP is a licensed CPA fimm that provides assurance services to its clients. Baker Tilly Advisory Group, LP and its subsidiary entities provide tax and consulting services to their clients and are not licensed CPA fis. 1 In performing an audit in accordance with GAAS, we: * Exercise professional judgment and maintain professional skepticism throughout the audit. e Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. e Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Utility's internal control. Accordingly, no such opinion is expressed. * Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements. We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings and certain internal control-related matters that we identified during the audit. Required Supplementary Information Accounting principles generally accepted in the United States of America require that the required supplementary information, as listed in the table of contents be presented to supplement the financial statements. Such information is the responsibility of management and, although not a part of the financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the financial statements in an appropriate operational, economic or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the financial statements and other knowledge we obtained during our audit of the financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Supplementary Information Our audit was conducted for the purpose of forming an opinion on the financial statements as a whole. The supplementary information as listed in the table of contents is presented for purposes of additional analysis and is not a required part of the financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statements. The information has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the supplementary information is fairly stated in all material respects, in relation to the financial statements as a whole. B Tilly 05, 207 Madison, Wisconsin April 14, 2026 MANAGEMENT'S DISCUSSION AND ANALYSIS Waterloo Water and Light Commission Management's Discussion and Analysis December 31, 2025 and 2024 The management of the Waterloo Water and Light Commission (Utility) offers all persons interested in the financial position of the Utility this narrative overview and analysis of the Utility's financial performance during the fiscal years ending December 31, 2025, and 2024. You are invited to read this narrative in conjunction with the Utility's financial statements. Financial Highlights The following summarizes the operating results of each Utility. Electric Utility Earnings Operating income increased from $275,000 in 2024 to $516,000 in 2025. Revenues increased 8.28% due to an increase in rates, effective May 1, 2024, and 3% increase in consumption. Operating expenses increased by 2.92% due to an increase related to purchased power. Water Utility Earnings The Water Utility had an operating income of $328,000 in 2025, down 24.16% from $433,000 in 2024. Operating revenues in 2025 decreased by 4.84% due to lower water consumption. Operating expenses increased by 10.51% due to higher maintenance costs. Sewer Utility Earnings The Sewer Utility had an operating income of $543,000 in 2025, compared with $1,049,000 in 2024. Operating revenues decreased by 5.83% due to a decline in sewer consumption in 2025. Operating expenses increased by 31.73% in 2025 due to a significant increase in depreciation expense. Debt Coverage The actual combined debt coverage for 2025 was 2.49, which exceeds the requirement of 1.25. See Debt Coverage graph and table on page 10 for detailed calculation. Overview of the Financial Statements/Using This Report The Waterloo Water and Light Commission is an enterprise fund of the City of Waterloo. The purpose of the Ultility is to provide electric, water and sewer service to properties located within the municipality and selected areas outside the city. This annual report consists of two parts: Management's Discussion and Analysis (this section) and the financial statements. The Waterloo Water and Light Commission is a self-supporting entity and follows enterprise fund reporting; accordingly, the financial statements are presented using the economic resources measurement focus and the accrual basis of accounting. Enterprise fund statements offer short- and long-term financial information about the activities and operations of the Waterloo Water and Light Commission. * The Statements of Net Position includes all of the Waterloo Water and Light Commission's assets, liabilities, deferred outflows of resources, deferred inflows of resources and net position and provides information about the nature and amount of investments in resources and the obligations to creditors. This statement provides the basis for evaluating the capital structure and assessing the liquidity and financial flexibility of the Waterloo Water and Light Commission. * The Statements of Revenues, Expenses and Changes in Net Position provide an indication of the Waterloo Water and Light Commission's financial health. Waterloo Water and Light Commission Management's Discussion and Analysis December 31, 2025 and 2024 * The Statements of Cash Flows report the cash provided and used by operating activities, as well as other cash sources such as investment income and cash payments for repayment of bonds and capital additions. Utility Financial Analysis An analysis of the Utility's financial position begins with a review of the Statements of Net Position and the Statements of Revenues, Expenses and Changes in Net Position report information. These two statements report the Utility's net position and changes therein. The Utility's net position, the difference between assets plus deferred outflows and liabilities plus deferred inflows, is key to measuring the financial health of the Utility. Over time, increases or decreases in the net position value are an indicator of whether the financial position is improving or deteriorating. However, it should be noted that the financial position can also be affected by other nonfinancial factors, including economic conditions, customer growth, climate conditions and new regulations. Condensed Statements of Net Position 2023 2024 2025 Assets and Deferred Outflows Unrestricted cash and investments $ 1,472,866 $ 2,556,522 $ 2,771,544 Customer accounts receivable 756,200 743,411 808,107 Restricted and designated assets 1,352,642 1,609,636 1,747,083 Other assets and deferred outflows 1,269,768 897,957 823,884 Net electric plant 8,446,217 8,587,271 8,690,508 Net water plant 6,473,256 6,458,461 7,371,937 Net sewer plant 13,762,056 22,970,591 28,288,872 Total assets and deferred outflows 33,533,005 43,823,849 50,501,935 Liabilities and Deferred Inflows Long-term liabilities 14,589,499 23,871,120 26,338,815 Other liabilities and deferred inflows 2,702,269 2,224,916 3,499,706 Total liabilities and deferred inflows 17,291,768 26,096,036 29,838,521 Net Position Net investment in capital assets 14,186,545 13,570,916 17,431,799 Restricted for: Debt service 522,829 960,594 574,815 Equipment replacement 558,262 577,418 894,524 Unrestricted 973,601 2,618,885 1,762,276 Total net position $ 16,241,237 $ 17,727,813 $ 20,663,414 The Electric Utility increased its net position by $287,000, the Water Utility increased its net position by $401,000, and the Sewer Utility increased its net position by $2,248,000. Waterloo Water and Light Commission Management's Discussion and Analysis December 31, 2025 and 2024 Unrestricted Funds on Hand $3.0M $2.5M - $2.0M - $1.5M $1.0M - I I I I $0.K L I L L L 2021 2022 2023 2024 2025 = Recommended = Actual Unrestricted Funds on Hand Actual vs. Recommended 2021-2025 2021 2022 2023 2024 2025 Minimum Funding Benchmark 1 Months Billings $ 513226 $ 585173 $ 617212 $§ 631,271 $ 646,615 Actual Funds on Hand 545,015 1,067,766 1,472,866 2,556,522 2,771,544 Months Billings on Hand 1.06 1.82 2.39 4.05 4.29 A Utility should maintain funds to cover its operations in a normal business operating cycle (i.e., quarterly, monthly) plus a contingency. In addition, utilities should have available an amount equal to one year's capital improvements. These funding levels facilitate budgeting since there will be less concern for business cycle fluctuations. This shows that the Utility increased their cash reserves in 2025. While reserves have fluctuated with annual projects and funding, they remain above the one month minimum. Waterloo Water and Light Commission Management's Discussion and Analysis December 31, 2025 and 2024 Condensed Statements of Revenues, Expenses and Changes in Net Position Operating Revenues Electric Water Sewer Total operating revenues Operating Expenses Electric: Operation and Maintenance Depreciation Total electric Water: Operation and Maintenance Depreciation Total water Sewer: Operation and Maintenance Depreciation Total sewer Total operating expenses Operating Income Electric Water Sewer Total operating income Nonoperating Revenue Nonoperating Expenses Income before contributions and transfers Capital Contributions Capital Contributions, Municipal Tranfers, Tax Equivalent Change in net position 2023 2024 2025 4288710 S 4366771 $ 4,728247 939,226 977,094 929,783 2,178,611 2,231,382 2,101,348 7,406,547 7,575,247 7,759,378 3,690,540 3,681,275 3,782,190 389,161 411,040 429,692 4,079,701 4,092,315 4,211,882 316,132 356,956 396,502 195,940 187,409 205,085 512,072 544,365 601,587 802,247 883,678 826,427 339,195 298,943 731,436 1,141,442 1,182,621 1,557,863 5,733,215 5,819,301 6,371,332 209,009 274,456 516,365 427,154 432,729 328,196 1,037,169 1,048,761 543,485 1,673,332 1,755,946 1,388,046 85,674 519,438 131,149 (328,733) (976,665) (586,610) 1,430,273 1,208,719 932,585 15,998 448,077 2,226,364 R - 36,103 (249,328) (260,220) (259,451) 1,196,943 $ 1486576 § 2935601 Waterloo Water and Light Commission Management's Discussion and Analysis December 31, 2025 and 2024 Electric Sales 14K 12K 10K 8K 6K aK 2K K > 2 e o & & ‘Zdlp Qd‘ é$\ & < & & > < S \;b‘ ‘}‘o° =2021 = 2022 = 2023 = 2024 = 2025 Electric Sales (000 kWh Sold) By Customer Class 2021 2022 2023 2024 2025 Residential 13,040 13,024 12,513 12,515 12,877 General 4,045 4,468 4,237 3,964 3,850 Small power 5,122 4,992 5,719 5,681 5,690 Large power 11,159 11,292 10,237 10,056 10,836 Street lighting 245 238 226 210 206 Total 33,611 34,014 _ 32,932 32,426 33,459 Electric sales by customer class rose due to higher usage across almost all classes. Residential, Small Power, and Large Power saw increased usage in 2025, while General and Street lighting saw a decrease. Waterloo Water and Light Commission Management's Discussion and Analysis December 31, 2025 and 2024 Water Sales 50K 45K - 40K - 35K - 30K | 25K - 20K - 15K 10K 5K + = 2021 = 2022 = 2023 = 2024 = 2025 Water Sales (000s Gallons Sold) By Customer Class 2021 2022 2023 2024 2025 Residential 45,384 45,422 46,540 44,055 43,472 Muiti-family residential 8,074 6,096 6,228 5,807 4,996 Commercial 10,753 11,353 13,997 13,230 12,526 Industrial 21,874 19,374 22,050 21,616 15,685 Public authority 2,427 1,487 2,160 1,565 1,529 Sales for resale (Portland) 2,687 2,585 2,404 2,400 2,150 Interdepartmental 3,000 2,908 3,292 3,892 1,936 Total 94,199 89,2256 96,671 92,565 82,294 Water sales by customer class decreased due to a decrease in usage across all classes. Waterloo Water and Light Commission Management's Discussion and Analysis December 31, 2025 and 2024 Sewer Sales 50K 45K - 40K - 35K 30K - 25K 20K - 15K - 10K - 5K K , é{o\ e & o{‘é » &F @Q b\{’ \$‘° &° & o°& « & & qo"’ m2021 =2022 =2023 w2024 w=2025 Sewer Revenues (000s Gallons Billed) By Customer Class 2021 2022 2023 2024 2025 Residential 43,912 43929 43736 42,793 41,941 Commercial 16,978 15,124 15,710 15,534 14,755 Industrial 24,760 18,323 23,361 23,972 14,902 Public authority 1,311 1,216 1,281 1,314 1,334 Wholesale (Portland) 5,272 5,149 4,310 9,053 6,365 Total 92,233 83,741 88,398 92,666 79,297 Sewer sales by customer class decreased due to a decrease in usage across almost all classes. Waterloo Water and Light Commission Management's Discussion and Analysis December 31, 2025 and 2024 Debt Coverage 4aM 3M 3M 2M 2M M 500K - K 2021 2023 2024 2025 = Required = Actual Debt Coverage Actual vs. Required 2021 2022 2023 2024 " 2025 Required Net Earnings $ 892,756 $ 925380 $ 923723 § 1,617,426 $ 1,449,606 Actual Net Earnings $ 1,999,201 $ 2,331,694 $ 2,683,303 $ 2,801,259 $ 2885408 Times Coverage 2.80 3.15 3.63 2.16 2.49 Under terms of the bond resolutions, revenues must be sufficient to pay operation and maintenance expenses and revenue bond debt service. The excess of actual net earnings over required net earnings represents additional borrowing power. 10 Waterloo Water and Light Commission Management's Discussion and Analysis December 31, 2025 and 2024 Consolidated Statements of Cash Flows 2023 2024 2025 Cash Flow From Operating activites $ 2,490,149 $ 2,922,069 $ 2,770,339 Investing activities 57,736 92,111 339,988 Capital and related financing activities: Capital improvements (8,117,312) (10,614,685) (4,480,411) Debt service and Issuance 5,431,312 9,169,434 2,213,830 Noncapital financing activities (238,625) (265,668) (260,220) Net change in cash and cash equivalents (376,740) 1,303,261 583,526 Cash and Cash Equivalents, Beginning 2,660,209 2,283,469 3,586,730 Cash and Cash Equivalents, Ending 2,283,469 3,586,730 4,170,256 Long-term investments 536,971 574,360 348,371 Total cash and investments $ 2,820,440 $ 4,161,090 $ 4,518,627 Cash flows from operating activities decreased in 2025 due to lower sewer and water consumption, partially offset by higher electric consumption and a rate increase for sewer. Cash flows from investing activities mainly result from sales of long-term investments and investment income. The cash flows from capital and related financing activities are related to retiring debt and capital investments. The large decrease in 2025 is due to fewer new debt withdrawals to fund capital projects than in the previous year. Capital Assets Details of Utility capital assets are shown in Note 5 to the financial statements. Long-Term Debt In 2025 Financing bonds were drawn on to fund sewer and water capital projects. Details of the existing debt are included in Note 6. Currently Known Facts/Economic Conditions The Utility continues to monitor the adequacy of retail rates. Sewer rates increased in 2025, electricity rates increased in 2024, and water rates increased in 2023. Increases in rates were designed to improve the utilities’ cash flow and rate of return and to meet debt coverage requirements. Contacting Utility's Financial Management This financial report is designed to provide our customers, investors and creditors with a general overview of the Ultility's finances. If you have questions about this report, or need additional financial information, contact the Utility office at 575 Commercial Avenue, Waterloo, Wisconsin 53594. 7 BASIC FINANCIAL STATEMENTS Waterloo Water and Light Commission Statements of Net Position December 31, 2025 and 2024 Assets and Deferred Outflows of Resources Current Assets Cash and investments Restricted assets: Redemption account Customer accounts receivable Other accounts receivable Materials and supplies Total current assets Noncurrent Assets Restricted assets: Reserve account Replacement account Interest receivable Other assets: Property held for future use Capital assets: Plant in service: Electric Water Sewer Total plant in service Accumulated depreciation/amortization: Electric Water Sewer Total accumulated depreciation/amortization Construction work in progress: Electric Water Sewer Total construction work in progress Total noncurrent assets Total assets Deferred Outflows of Resources Deferred outflows related to pension See notes to the financial statements 12 2025 2024 $ 2771544 § 2556522 335,627 281,962 808,107 743,411 10,523 19,187 403,101 315,308 4,328,902 3,916,390 516,932 516,932 894,524 805,674 - 5,068 12,045 12,045 14,334,812 13,847,545 9,851,017 9,027,841 32,229,500 11,955,094 56,415,329 34,830,480 (5,738,124) (5,375,971) (2,497,320) (2,757,529) (4,461,119) (7.371,702) (12,696,563) __ (15,505,202) 93,820 115,697 18,240 188,149 520,491 18,387,199 632,551 18,691,045 45,774,818 39,356,042 50,103,720 43,272,432 398,215 551,417 Waterloo Water and Light Commission Statements of Net Position December 31, 2025 and 2024 Liabilities, Deferred Inflows of Resources and Net Position Current Liabilities Accounts payable Due to Municipality Accrued interest Accrued vacation leave Accrued liabilities Commitment to community Current liabilities payable from restricted assets: Current portion of general obligation debt Current portion of revenue bonds Accrued interest Total current liabilities Noncurrent Liabilities General obligation debt Revenue bonds Unamortized debt discount Accrued sick leave Net pension liability Total noncurrent liabilities Total liabilities Deferred Inflows of Resources Deferred inflows related to pension Net Position Net investment in capital assets Restricted for: Debt service Equipment replacement Unrestricted Total net position See notes to the financial statements 13 2025 2024 $ 1,689,259 $ 712,322 482,644 273,420 1,951 2,188 42,141 50,607 10,526 7,159 5,242 5,204 50,000 45,000 957,769 743,356 82,036 71,624 3,321,568 1,910,970 320,000 370,000 25,808,656 23,309,954 (21,199) (22,903) 151,880 143,414 79,478 70,655 26,338,815 23,871,120 29,660,383 25,782,090 178,138 313,946 17,431,799 13,766,624 574,815 531,562 894,524 810,742 1,762,276 2,618,885 $ 20663414 $ 17,727,813 Waterloo Water and Light Commission Statements of Revenues, Expenses and Changes in Net Position Years Ended December 31, 2025 and 2024 Operating Revenues Electric: Sales of electricity Other Total electric Water: Sales of water Other Total water Sewer: Treatment charges Other Total sewer Total operating revenues Operating Expenses Electric: Operation and maintenance Depreciation Total electric Water: Operation and maintenance Depreciation Total water Sewer: Operation and maintenance Depreciation Total Sewer Total operating expenses Operating Income Electric Water Sewer Total operating income See notes to the financial statements 14 2025 2024 4,682,478 $ 4,309,739 45,769 57,032 4,728,247 4,366,771 886,663 932,175 43,120 44,919 929,783 977,094 2,094,376 2,226,058 6,972 5,324 2,101,348 2,231,382 7,759,378 7,575,247 3,782,190 3,681,275 429,692 411,040 4,211,882 4,092,315 396,502 356,956 205,085 187,409 601,587 544,365 826,427 883,678 731,436 298,943 1,557,863 1,182,621 6,371,332 5,819,301 516,365 274,456 328,196 432,729 543,485 1,048,761 1,388,046 1,755,946 Waterloo Water and Light Commission Statements of Revenues, Expenses and Changes in Net Position Years Ended December 31, 2025 and 2024 2025 2024 Nonoperating Revenue (Expenses) Investment income $ 108,931 $ 129,500 Income from nonutility operations 11,429 11,426 Income from merchandising and jobbing 10,789 6,995 Miscellaneous expense (120,446) (24,337) Grant revenue for financing costs - 395,854 Interest expense (464,460) (942,965) Debt issuance costs and amortization of debt discount (1,704) (33,700) Total nonoperating revenue (expenses) (455,461) (457,227) Income before contributions and transfers 932,585 1,298,719 Capital Contril ns 2,226,364 448,077 Capital Contributions, Municipal 36,103 - Transfers, Tax Equivalent (259,451) (260,220) Change in net position 2,935,601 1,486,576 Net Position, Beginning 17,727,813 16,241,237 Net Position, Ending $ 20,663,414 $ 17,727,813 See notes to the financial statements 15 Waterloo Water and Light Commission Statements of Cash Flows Years Ended December 31, 2025 and 2024 2025 2024 Cash Flows From Operating Activities Received from customers $ 7,646,416 $ 7,565,321 Received from Municipality for services 79,096 74,790 Paid to suppliers for goods and services (3,402,227) (3,783,611) Paid to employees for operating payroll (1,552,946) (934,431) Net cash flows from operating activities 2,770,339 2,922,069 Cash Flows From Noncapital Financing Activities Paid to Municipality for tax equivalent (260,220) (265,668) Cash Flows From Capital and Related Financing Activities Acquisition and construction of capital assets (6,750,698) (11,062,762) Contributions (refunds) in aid of construction 2,234,184 448,077 Grant funded interim financing - 395,854 Capital contributions received - municipal 36,103 - Debt retired (788,574) (17,577,461) Interest paid (454,285) (890,181) Proceeds from debt issue 3,456,689 27,273,222 Debt issuance costs - (32,000) Net cash flows from capital and related financing activities (2,266,581) (1,445,251) Cash Flows From Investing Activities Investments purchased (178,489) (574,360) Investments sold and matured 404,478 536,971 Investment income 113,999 129,500 Net cash flows from investing activities 339,988 92,111 Net change in cash and cash equivalents 583,526 1,303,261 Cash and Cash Equivalents, Beginning 3,586,730 2,283,469 Cash and Cash Equivalents, Ending $ 4,170,256 $ 3,586,730 Noncash Investing, Capital and Financing Activities Amortization of debt discount $ 1704 $ 1,700 See notes to the financial statements 16 Waterloo Water and Light Commission Statements of Cash Flows Years Ended December 31, 2025 and 2024 2025 2024 Reconciliation of Operating Income to Net Cash Flows From Operating income $ 1,388,046 $ 1,755,946 Nonoperating revenue (expense) 22,218 18,421 Noncash items in operating income: Depreciation 1,366,213 897,392 Depreciation charged to clearing and other utilities 58,547 95,508 Changes in assets, deferred outflows, liabilities and deferred inflows: Customer accounts receivable (64,696) 12,789 Other accounts receivable 8,664 33,594 Materials and supplies (87,793) 66,515 Pension related deferrals and liabilities 26,165 (1,205) Accounts payable 58,288 (8,015) Due to other funds (8,680) (3,317) Accrued liabilities 3,367 54,441 Net cash flows from operating activities $ 2,770,339 § 2,922,069 Reconciliation of Cash and Cash Equivalents to Statements of Net Position Accounts Cash and investments $ 2,771,544 $ 2,556,522 Redemption account 335,627 281,962 Reserve account 516,932 516,932 Replacement account 894,524 805,674 Total cash and investments 4,518,627 4,161,090 Less noncash equivalents (348,371) (574,360) Cash and cash equivalents $ 4,170,256 $ 3,586,730 See notes to the financial statements 17 Waterloo Water and Light Commission Notes to Financial Statements December 31, 2025 and 2024 1. Summary of Significant Accounting Policies The financial statements of Waterloo Water and Light Commission (the Utility) have been prepared in conformity with accounting principles generally accepted in the United States of America as applied to enterprise funds of governmental units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting principles. Waterloo Water and Light Commission (Utility) provides electric, water and sewer service to properties within the City of Waterloo (Municipality) and electric service to the Towns of Waterloo, Medina and Portland. The Utility furnishes water at wholesale to, and treats wastewater from, the Town of Portland. The significant accounting principles and policies utilized by the Utility are described below. Reporting Entity The Utility is a separate enterprise fund of the City of Waterloo (Municipality). The Utility is managed by the utility commission. The Utility provides electric, water and sewer service to properties within the Municipality. In addition, the Utility serves certain properties outside the Municipality as noted above. The electric and water utilities operate under service rules and rates established by the Public Service Commission of Wisconsin (PSCW). The sewer utility operates under rules and rates established by the utility commission. Measurement Focus, Basis of Accounting and Financial Statement Presentation The Utility is presented as an enterprise fund of the Municipality. Enterprise funds are used to account for operations that are financed and operated in a manner similar to private business or where the governing body has decided that the determination of revenues earned, costs incurred and netincome is necessary for management accountability. The financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Under the accrual basis of accounting, revenues are recognized when earned and expenses are recorded when the liability is incurred or economic asset used. Revenues, expenses, gains, losses, assets and liabilities resulting from exchange and exchange-like transactions are recognized when the exchange takes place. In December 2023, the GASB issued Statement No. 102, Certain Risk Disclosures. This Statement requires that a government assess whether a concentration or constraint makes the primary government reporting unit or other reporting units that report a liability for revenue debt vulnerable to the risk of a substantial impact. Additionally, this Statement requires a government to assess whether an event or events associated with a concentration or constraint that could cause the substantial impact have occurred, have begun to occur, or are more likely than not to begin to occur within 12 months of the date the financial statements are issued. This standard was implemented January 1, 2025, and had no material impact on the financial statements.. Preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. 18 Waterloo Water and Light Commission Notes to Financial Statements December 31, 2025 and 2024 Assets, Deferred Outflows of Resources, Liabilities, Deferred Inflows of Resources and Net Position Deposits and Investments For purposes of the statement of cash flows, cash and cash equivalents have original maturities of three months or less from the date of acquisition. Investment of utility funds is restricted by state statutes. Investments are limited to: e Time deposits in any credit union, bank, savings bank or trust company. * Bonds or securities of any county, city, drainage district, technical college district, village, town or school district of the state. Also, bonds issued by a local exposition district, local professional baseball park district, local professional football stadium district, local cultural arts district, the University of Wisconsin Hospitals and Clinics Authority or the Wisconsin Aerospace Authority. e Bonds or securities issued or guaranteed by the federal government. e The local government investment pool. e Any security maturing in seven years or less and having the highest or second highest rating category of a nationally recognized rating agency. e Securities of an open end management investment company or investment trust, subject to various conditions and investment options. * Repurchase agreements with public depositories, with certain conditions. The Utility has not adopted a formal investment policy. Investments are stated at fair value, which is the amount at which an investment could be exchanged in a current transaction between willing parties. Fair values are based on methods and inputs as outlined in Note 2. No investments are reported at amortized cost. Adjustments necessary to record investments at fair value are recorded in the operating statement as increases or decreases in investment income. Market values may have changed significantly after year end. Receivables/Payables Transactions between the Utility and other funds of the Municipality that are representative of lending/borrowing arrangements outstanding at year end are referred to as advances to/from other funds. All other outstanding balances between the Utility and other funds of the Municipality are reported as due to/from other funds. The Utility has the right under Wisconsin statutes to place delinquent electric, water and sewer bills on the tax roll for collection. As such, no allowance for uncollectible customer accounts is considered necessary. Materials and Supplies Materials and supplies are generally used for construction, operation and maintenance work, not for resale. They are valued at the lower of cost or market utilizing the average cost method and charged to construction or expense when used. 19 Waterloo Water and Light Commission Notes to Financial Statements December 31, 2025 and 2024 Restricted Assets Mandatory segregations of assets are presented as restricted assets. Such segregations are required by bond agreements and other external parties. Current liabilities payable from these restricted assets are so classified. Anticipated Future Special Assessments At December 31, 2025 there were $306,096 of anticipated future assessments which are not reported as receivables because collection is subject to certain events occurring in the future and no formal repayment schedule has been established. Capital Assets Capital assets are generally defined by the Utility as assets with an initial, individual cost of more than $5,000 and an estimated useful life in excess of one year. Capital assets of the Utility are recorded at cost or the estimated acquisition value at the time of contribution to the Utility. Major outlays for Utility plant are capitalized as projects are constructed. Capital assets in service are depreciated or amortized using the straight-line method over the following useful lives: Years Electric Plant: Transmission 30 Distribution 20-40 General 7-40 Water Plant: Source of supply 34-56 Pumping 23-31 Water treatment 17 Transmission and distribution 18-77 General 4-34 Sewer Plant: Collecting system 80 Collecting system pumping 20 Treatment and disposal 13-38 General 7-40 20 Waterloo Water and Light Commission Notes to Financial Statements December 31, 2025 and 2024 Pensions The fiduciary net position of the Wisconsin Retirement System (WRS) has been determined using the flow of economic resources measurement focus and accrual basis of accounting. This includes for purposes of measuring the following: o Net Pension Liability (Asset); o Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions; and e Pension Expense (Revenue). Information about the fiduciary net position of the WRS and additions to/deductions from WRS' fiduciary net position have been determined on the same basis as they are reported by the WRS. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value. Deferred Outflows of Resources A deferred outflow of resources represents a consumption of net position that applies to a future period and will not be recognized as an outflow of resources (expense) until that future time. Accrued Vacation and Sick Leave Under terms of employment, employees are granted sick leave and vacations in varying amounts. Vacation and sick leave pay is accrued when earned in the financial statements. Customer Advances for Construction The balance represents fees collected for future capital improvements. The fees may be refundable based on rules filed with the PSCW or statutory requirements. Commitment to Community The Electric Utility charges fees to all customers as required by the 1999 Energy Reliability Act and 2006 Act 141. Revenues generated from the fees are used to fund energy conservation and low-income energy assistance (Commitment to Community) programs. The Utility is acting as an agent administering the program so net collections and expenditures/remittances associated with the program are recorded as a current liability on the statements of net position. Long-Term Obligations Long-term debt and other obligations are reported as Utility liabilities. Bond premiums and discounts, are amortized over the life of the bonds using the straight-line method. Gains or losses on prior refundings are amortized over the remaining life of the old debt or the life of the new debt, whichever is shorter. The balance at year end for premiums and discounts is shown as an increase or decrease in the liability section of the statement of net position. The balance at year end for the loss on refunding is shown as a deferred outflow in the statement of net position. Deferred Inflows of Resources A deferred inflow of resources represents an acquisition of net position that applies to a future period and therefore will not be recognized as an inflow of resources (revenue) until that future time. 21 Waterloo Water and Light Commission Notes to Financial Statements December 31, 2025 and 2024 Revenues and Expenses The Utility distinguishes operating revenues and expenses from nonoperating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with the Utility's principal ongoing operations. The principal operating revenues of the Utility are charges to customers for sales and services. Operating expenses for enterprise funds include the cost of sales and services, administrative expenses and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses. Charges for Services Billings are rendered and recorded monthly based on metered usage. The Utility does not accrue revenues beyond billing dates. Current electric rates were approved by the PSCW effective May 1, 2024 and are designed to provide a 6.5% return on rate base. Current water rates were approved by the PSCW effective September 1, 2023 and are designed to provide a 8% return on rate base. Current sewer rates were approved by the utility commission effective January 1, 2025. Capital Contributions Cash and capital assets are contributed to the Utility from customers, the Municipality or external parties. The value of property contributed to the Utility is reported as revenue on the statements of revenues, expenses and changes in net position. Transfers Transfers include the payment in lieu of taxes to the Municipality and other miscellaneous operating items between the Utilities and the Municipality. See Note 3 for more details. Effect of New Accounting Standards on Current Period Financial Statements The Governmental Accounting Standards Board (GASB) has approved the following: e Statement No. 103, Financial Reporting Model Improvements e Statement No. 104, Disclosure of Certain Capital Assets e Statement No. 105, Subsequent Events When they become effective, application of these standards may restate portions of these financial statements. Comparative Data Certain amounts presented in the prior year data may have been reclassified in order to be consistent with the current year's presentation. 22 Waterloo Water and Light Commission Notes to Financial Statements December 31, 2025 and 2024 2. Deposits and Investments Carrying Value as of December 31, 2025 2024 Risks Checking and savings $ 4,518,251 $ 4,104,223 Custodial credit risk U.S. treasury securities - 56,491 Interest risk Petty cash 376 376 N/A Total $ 4518627 $ 4,161,090 Deposits in each local and area bank are insured by the FDIC in the amount of $250,000 for time and savings accounts (including NOW accounts) and $250,000 for demand deposit accounts (interest-bearing and non-interest-bearing). In addition, if deposits are held in an institution outside of the state in which the government is located, insured amounts are further limited to a total of $250,000 for the combined amount of all deposit accounts. Bank accounts are also insured by the State Deposit Guarantee Fund (SDGF) in the amount of $1,000,000. The Utility categorizes its fair value measurements within the fair value hierarchy established by generally accepted accounting principles. The hierarchy is based on the valuation inputs used to measure the fair value of the asset. Level 1 inputs are quoted prices in active markets for identical assets; Level 2 inputs are significant other observable inputs; Level 3 inputs are significant unobservable inputs. The valuation methods for recurring methods fair value measurements are as follows: As of December 31, 2025, the Utility did not have any investments. December 31, 2024 Investment Type Level 1 Level 2 Level 3 Total U.S. treasury securities $ 56,491 $ -8 -8 56,491 Custodial Credit Risk Deposits Custodial credit risk is the risk that in the event of a financial institution failure, the utility's deposits may not be returned to the Utility. As of December 31, 2025 and 2024, $2,238,875 and $0 of the utility's bank balances known to be individually exposed to custodial credit risk were as follows: 2025 2024 BMO $ 2,238875 $ - Investments For an investment, custodial credit risk is the risk that, in the event of the failure of the counterparty, the Utility will not be able to recover the value of its investments or collateral securities that are in the possession of an outside party. 23 Waterloo Water and Light Commission Notes to Financial Statements December 31, 2025 and 2024 The Utility does not have any investments exposed to custodial credit risk. Interest Rate Risk Interest rate risk is the risk changes in interest rates will adversely affect the fair value of an investment. As of December 31, 2025, the Utility did not have any investments. As of December 31, 2024, the utility's investments were as follows: Investment Maturity Date Call Date Fair Value U.S. treasury securities 03/15/2025 $ 56,491 3. Interfund Receivables/Payables The following is a schedule of interfund balances for the years ended December 31, 2025 and 2024: 2025 2024 Due To Due From Amount Principal Purpose ~ Amount Principal Purpose Utility Tax Fund $ 13,696 Delinquentontax $ 4,958 Delinquent on tax roll roll Utility Capital Projects 36,103 Electric lighting - Fund project General Fund Utility 277,667 Tax equivalent and 278,378 Tax equivalent and garbage garbage collections collections Capital Projects Utility 254,776 Utility's share of - Fund road project. The following is a schedule of transfer balances for the years ended December 31, 2025 and 2024: 2025 2024 To From Amount Principal Purpose Amount Principal Purpose City Utility $ 259,451 Tax equivalent $ 260,220 Tax equivalent 4. Restricted Assets Restricted Accounts Certain proceeds of the Utility's debt, as well as certain resources set aside for their repayment, are classified as restricted assets on the statement of net position because their use is limited. The following accounts are reported as restricted assets: Redemption - Used to segregate resources accumulated for debt service payments over the next twelve months. Reserve - Used to report resources set aside to make up potential future deficiencies in the redemption account. 24 Waterloo Water and Light Commission Notes to Financial Statements December 31, 2025 and 2024 Replacement Account As a condition of receiving state and federal funds for wastewater plant construction, the Utility has established an account for replacement of certain mechanical equipment. Restricted Net Position The following calculation supports the amount of electric, water and sewer restricted net position: 2025 2024 Restricted assets: Redemption account $ 335627 $ 281,962 Reserve account 516,932 516,932 Replacement account 894,524 805,674 Interest receivable - 5,068 Total restricted assets 1,747,083 1,609,636 Less restricted assets not funded by revenues: Reserve from borrowing (195,708) (195,708) Current Liabilities Payable From Restricted Assets (82,036) (71,624) Total restricted net position as calculated $ 1,469,339 $ 1,342,304 The purpose of the restricted net position is as follows: 2025 2024 Debt service $ 574,815 $ 531,562 Equipment replacement 894,524 810,742 Total restricted net position $ 1,469,339 $ 1,342,304 25 Waterloo Water and Light Commission Notes to Financial Statements December 31, 2025 and 2024 5. Changes in Capital Assets Electric Utility A summary of changes in electric capital assets for 2025 follows: Capital assets, not being depreciated: Land and land rights Capital assets being depreciated: Distribution General Total capital assets being depreciated Total capital assets Less accumulated depreciation: Distribution General Total accumulated depreciation Construction in progress Net capital assets Balance Balance 1/1/25 Increases Decreases 12/31/25 $ 199,729 §$ - -8 199,729 10,976,307 661,685 205,098 11,432,894 2,671,509 30,680 - 2,702,189 13,647,816 692,365 205,098 14,135,083 13,847,545 692,365 205,098 14,334,812 (3,808,941) (517,654) 259919 (4,066,676) (1,567,030) (104,418) - (1,671,448) (5,375,971) (622,072) 259919 (5,738,124) 115,697 589,165 611,042 93,820 $ 8,587,271 $ 8,690,508 26 Waterloo Water and Light Commission Notes to Financial Statements December 31, 2025 and 2024 A summary of changes in electric capital assets for 2024 follows: Capital assets, not being depreciated: Land and land rights Capital assets being depreciated: Distribution General Total capital assets being depreciated Total capital assets Less accumulated depreciation: Distribution General Total accumulated depreciation Construction in progress Net capital assets Balance Balance 1124 Increases Decreases 12/31/24 $ 199,729 §$ - -8 199,729 10,460,979 662,377 147,049 10,976,307 2,651,174 20,335 - 2,671,509 13,112,153 682,712 147,049 13,647,816 13,311,882 682,712 147,049 13,847,545 (3,578,963) (371,106) 141128 (3,808,941) (1,468,574) (98,456) - (1,567,030) (5,047,537) (469,562) 141128 (5,375,971) 181,872 534,607 600,782 115,697 $ 8,446,217 $ 8,587,271 27 Waterloo Water and Light Commission Notes to Financial Statements December 31, 2025 and 2024 Water Utility A summary of changes in water capital assets for 2025 follows: Capital assets, not being depreciated: Land and land rights Capital assets being depreciated: Source of supply Pumping Water treatment Transmission and distribution General Total capital assets being depreciated Total capital assets Less accumulated depreciation: Source of supply Pumping Water treatment Transmission and distribution General Total accumulated depreciation Construction in progress Net capital assets Balance Balance 1/1/25 Increases Decreases 12/31/25 $ 13,113 $ -8 -3 13,113 72,767 - - 72,767 916,002 895,235 361,879 1,449,358 28,844 - - 28,844 7,248,132 398,166 146,765 7,499,533 748,983 38,419 - 787,402 9,014,728 1,331,820 508,644 9,837,904 9,027,841 1,331,820 508,644 9,851,017 (43,979) (1,548) - (45,525) (759,932) (39,298) 364,667 (434,563) (21,041) (1,731) - (22,772) (1,473,723) (156,926) 134,325 (1,496,324) (458,854) (39,282) - (498,136) (2,757,529) (238,783) 498,992 (2497,320) 188,149 1,143,582 1,313,491 18,240 $ 6,458,461 $ 7,371,937 28 Waterloo Water and Light Commission Notes to Financial Statements December 31, 2025 and 2024 A summary of changes in water capital assets for 2024 follows: Capital assets, not being depreciated: Land and land rights Capital assets being depreciated: Source of supply Pumping Water treatment Transmission and distribution General Total capital assets being depreciated Total capital assets Less accumulated depreciation: Source of supply Pumping Water treatment Transmission and distribution General Total accumulated depreciation Construction in progress Net capital assets Balance Balance 1124 Increases Decreases 12/31/24 $ 13,113 $ - -3 13,113 72,767 - - 72,767 916,002 - - 916,002 28,844 - - 28,844 7,235,662 78,737 66,267 7,248,132 746,739 2,244 - 748,983 9,000,014 80,981 66,267 9,014,728 9,013,127 80,981 66,267 9,027,841 (42,433) (1,548) - (43,979) (734,834) (25,098) - (759,932) (19,310) (1,731) - (21,041) (1,386,505) (153,505) 66,287 (1,473,723) (419,801) (39,053) - (458,854) (2,602,883) (220,933) 66,287 (2,757,529) 63,012 125,316 179 188,149 $ 6,473,256 $ 6,458,461 29 Waterloo Water and Light Commission Notes to Financial Statements December 31, 2025 and 2024 Sewer Utility A summary of changes in sewer capital assets for 2025 follows: Capital assets, not being depreciated: Land and land rights Capital assets being depreciated: Collecting system Collecting system pumping Treatment and disposal General Total capital assets being depreciated Total capital assets Less accumulated depreciation: Collecting system Collecting system pumping Treatment and disposal General Total accumulated depreciation Construction in progress Net capital assets Balance Balance 1/1/25 Increases Decreases 12/31/25 $ 21,763 § - -3 21,763 3,635,215 778,747 19,842 4,394,120 197,409 11,781 - 209,190 6,913,797 21,324,417 3,615,663 24,622,551 1,186,910 1,794,966 - 2,981,876 11,933,331 23,909,911 3,635,505 32,207,737 11,955,094 23,909,911 3,635,505 32,229,500 (774,169) (56,703) 19,842 (811,030) (144,643) (7,507) - (152,150) (5,786,251) (529,185) 3615664 (2,699,772) (666,639) (131,528) - (798,167) (7,371,702) (724,923) 3,635,506 (4,461,119) 18,387,199 6,030,862 23,897,570 520,491 $ 22,970,591 $ 28,288,872 30 Waterloo Water and Light Commission Notes to Financial Statements December 31, 2025 and 2024 A summary of changes in sewer capital assets for 2024 follows: Capital assets, not being depreciated: Land and land rights Capital assets being depreciated: Collecting system Collecting system pumping Treatment and disposal General Total capital assets being depreciated Total capital assets Less accumulated depreciation: Collecting system Collecting system pumping Treatment and disposal General Total accumulated depreciation Construction in progress Net capital assets Balance Balance 1124 Increases Decreases 12/31/24 $ 21,763 § - $ 21,763 3,635,215 - 3,635,215 189,123 8,286 197,409 6,858,866 54,931 6,913,797 1,186,910 - 1,186,910 11,870,114 63,217 11,933,331 11,891,877 63,217 11,955,094 (722,398) (51,771) (774,169) (140,436) (4,207) (144,643) (5,605,615) (180,636) (5,786,251) (614,687) (51,952) (666,639) (7,083,136) (288,566) (7,371,702) 8,953,315 9,433,884 18,387,199 $ 13,762,056 $ 22,970,591 31 Waterloo Water and Light Commission Notes to Financial Statements December 31, 2025 and 2024 6. Long-Term Obligations Revenue Debt The following bonds have been issued: Outstanding Final Interest Original Amount Date Purpose Maturity Rate Amount 12/31/25 11/06/2012 Capital improvements and 11/01/2028 3% $ 3,255000 $ 195,000 refinancing capital improvement debt 03/27/2013 Refinance capital 05/01/2032 3 1,384,900 592,095 * improvement debt 11/15/2016 Capital improvements debt 11/01/2036 3 1,310,000 860,000 09/10/2020 Capital improvements debt 11/01/2040 0.40-2.25 4,335,000 3,605,000 02/14/2024 Capital improvements debt 05/01/2043 2 4,090,965 4,090,965 * (1) 09/11/2024 Capital improvements debt 11/01/2044 2 621,785 616,265 * (2) 11/12/2024 Capital improvements and 05/01/2064 2 17,114,000 16,807,100 * refinancing capital improvements debt * The debt noted is directly placed with a third party. (1) - During 2024 the Utility was authorized to issue $4,355,649 of Sewer System Clean Water Fund revenue bonds. The Utility withdrew $1,122,461 in 2024 and $2,968,504 in 2025. The original amount reported above has been issued as of December 31, 2025. The repayment schedule is for the amount issued. (2) - During 2024 the Utility was authorized to issue $803,807 of Water System Safe Drinking Water Loan revenue bonds. The Utility withdrew $133,599 in 2024 and $488,186 in 2025. The original amount reported above has been issued as of December 31, 2025. The repayment schedule is for the amount issued. Revenue bonds debt service requirements to maturity follows: Years Ending Bonds Direct Placement December 31: Principal Interest Principal Interest Total 2026 $ 360,000 $ 83,683 § 597,769 $ 402,182 § 1,443,634 2027 360,000 78,803 609,715 389,638 1,438,156 2028 360,000 73,515 621,808 377,423 1,432,746 2029 295,000 68,008 634,252 364,960 1,362,220 2030 295,000 63,933 646,850 352,244 1,358,027 2031-2035 1,575,000 245,557 3,144,633 1,572,428 6,537,618 2036-2040 1,415,000 89,366 3,256,321 1,274,191 6,034,878 2041-2045 - - 2,983,675 879,125 3,862,800 2046-2050 - - 2,228,100 764,374 2,992,474 2051-2055 - - 2,431,800 562,413 2,994,213 2056-2060 - - 2,654,300 341,982 2,996,282 2061-2064 - - 2,297,202 101,382 2,398,584 Total $ 4,660,000 $ 702,865 $ 22106425 $ 7,382,342 $ 34,851,632 32 Waterloo Water and Light Commission Notes to Financial Statements December 31, 2025 and 2024 All Utility revenues net of specified operating expenses are pledged as security of the above revenue bonds until the bonds are defeased. Principal and interest paid for 2025 and 2024 were $1,159,685 and $1,293,941, respectively. Total customer net revenues as defined for the same periods were $2,885,408 and $2,801,259. Annual principal and interest payments are expected to require 31% of net revenues on average. General Obligation Debt The following general obligation notes have been issued: Outstanding Final Interest Original Amount Date Purpose Maturity Rate Amount 12/31/25 08/22/2022 Water Projects 11/01/2032 3% $ 500,000 $ 370,000 General obligation notes debt service requirements to maturity follows: Years Ending Bonds December 31: Principal Interest Total 2026 $ 50,000 $ 11,803 $ 61,803 2027 50,000 10,208 60,208 2028 50,000 8,637 58,637 2029 50,000 7,018 57,018 2030 55,000 5,423 60,423 2031-2032 115,000 5,587 120,587 Total $ 370,000 $ 48,676 $ 418,676 Long-Term Obligations Summary Long-term obligation activity for the year ended December 31, 2025 is as follows: 11125 12/31/25 Due Within Balance Additions Reductions Balance One Year Revenue bonds $ 24,053,310 $ 3,456,689 $ 743,574 $ 26,766,425 $ 957,769 General obligation debt 415,000 - 45,000 370,000 50,000 Accrued sick leave 143,414 50,738 42,272 151,880 - Unamortized debt discount (22,903) 1,704 - (21,199) - Total $ 24588821 $ 3,509,131 $ 830,846 §$ 27,267,106 $ 1,007,769 33 Waterloo Water and Light Commission Notes to Financial Statements December 31, 2025 and 2024 Long-term obligation activity for the year ended December 31, 2024 is as follows: 11724 12/31/24 Due Within Balance Additions Reductions Balance One Year Revenue bonds $ 6,102,457 $ 18,370,060 $ 419,207 $ 24,053,310 $ 743,356 General obligation debt 460,000 - 45,000 415,000 45,000 Revenue Bond Anticipation Note 8,210,092 8,903,162 17,113,254 - - Accrued sick leave 85,587 81,355 23,528 143,414 - Unamortized debt discount (24,603) 1,700 - (22,903) - Total $ 14,833,533 §$ 27,356,277 $ 17,600,989 §$ 24,588,821 $ 788,356 Bond Covenant Disclosures The following information is provided in compliance with the resolution creating the 2012, 2013, 2016, 2020 and 2024 revenue bonds: Insurance The Utility is exposed to various risks of loss related to torts, theft of, damage to, or destruction of assets, errors and omissions, workers compensation and health care of its employees. These risks are covered through the purchase of commercial insurance, with minimal deductibles. Settled claims have not exceeded coverage in any of the last three years. There were no significant reductions in coverage compared to the prior year. The Utility is covered under the following insurance policies at December 31, 2025: Type Coverage Expiration Automobile $ 5,000,000 01/01/2026 Excess liability 5,000,000 01/01/2026 Workers compensation 2,000,000 01/01/2026 34 Waterloo Water and Light Commission Notes to Financial Statements December 31, 2025 and 2024 Debt Coverage Under terms of the resolutions providing for the issue of revenue bonds, revenues less operating expenses excluding depreciation (defined net earnings) must exceed 1.25 times the annual debt service. The coverage only includes revenue debt and does not include general obligation or other debt. The coverage requirement was met in 2025 and 2024 as follows: 2025 2024 Operating revenues $ 7,759,378 $ 7,575,247 Investment income 108,931 129,500 Miscellaneous nonoperating income 11,429 11,426 Income from merchandising and jobbing 10,789 6,995 Less operation and maintenance expenses (5,005,119) (4,921,909) Net defined earnings $ 2885408 $ 2,801,259 Minimum required earnings per resolution: Current year's revenue bond debt service $ 1,159,685 $ 1,293,941 Coverage factor 1.25 1.25 Minimum required earnings $ 1,449,606 $ 1,617,426 Actual debt coverage 2.49 2.16 Number of Customers and Billed Volumes - Electric The Utility has the following number of customers and billed volumes for 2025 and 2024: Customers Sales (000 kWh) 2025 2024 2025 2024 Residential 1,621 1,626 12,877 12,515 General 272 275 3,850 3,964 Small power 18 18 5,690 5,681 Large power 7 7 10,836 10,056 Street and highway lighting 2 2 206 210 Total 1,920 1,928 33,459 32,426 35 Waterloo Water and Light Commission Notes to Financial Statements December 31, 2025 and 2024 Number of Customers and Billed Volumes - Water The Utility has the following number of customers and billed volumes for 2025 and 2024: Customers Sales (000 gals) 2025 2024 2025 2024 Residential 1,176 1,178 43,472 44,055 Multifamily residential 25 25 4,996 5,807 Commercial 109 109 12,526 13,230 Industrial 10 " 15,685 21,616 Public authority 15 15 1,529 1,565 Irrigation 1 1 2,150 2,400 Interdepartmental 5 6 1,936 3,892 Total 1,341 1,345 82,294 92,565 Number of Customers and Billed Volumes - Sewer The Utility has the following number of customers and billed volumes for 2025 and 2024: Customers Sales (000 gals) 2025 2024 2025 2024 Residential 1,176 1,175 41,941 42,793 Multifamily residential 24 24 4,995 5,807 Commercial 103 103 9,760 9,727 Industrial 10 10 14,902 23,972 Public authority 12 12 1,334 1,314 Wholesale 1 1 6,365 9,053 Total 1,326 1,325 79,297 92,666 7. Net Position GASB No. 34 requires the classification of net position into three components - net investment in capital assets, restricted and unrestricted. These classifications are defined as follows: Net Investment in Capital Assets - This component of net position consists of capital assets, including restricted capital assets, net of accumulated depreciation and reduced by the outstanding balances of any bonds, mortgages, notes or other borrowings that are attributable to the acquisition, construction or improvement of those assets. If there are significant unspent related debt proceeds at year-end, the portion of the debt attributable to the unspent proceeds are not included in the calculation of net investment in capital assets. Rather, that portion of the debt is included in the same net position component as the unspent proceeds. Restricted - This component of net position consists of constraints placed on net position use through external constraints imposed by creditors (such as through debt covenants), grantors, contributors or laws or regulations of other governments or constraints imposed by law through constitutional provisions or enabling legislation. Unrestricted Net Position - This component of net position consists of net positions that do not meet the definition of "restricted” or "net investment in capital assets.” 36 Waterloo Water and Light Commission Notes to Financial Statements December 31, 2025 and 2024 When both restricted and unrestricted resources are available for use, it is the utility's policy to use restricted resources first, then unrestricted resources as they are needed. The following calculation supports the total net investment in capital assets subtotal: 2025 2024 Plant in service $ 56,415329 $ 34,830,480 Accumulated depreciation/amortization (12,696,563) (15,505,202) Construction work in progress 632,551 18,691,045 Subtotal 44,351,317 38,016,323 Less capital related debt: Current portion of capital related long-term debt 1,007,769 788,356 Long-term portion of capital related long-term debt 26,128,656 23,679,954 Unamortized debt discount (21,199) (22,903) Subtotal 27,115,226 24,445,407 Add unspent debt proceeds: Reserve from borrowing 195,708 195,708 Total net investment in capital assets $ 17,431,799 $ 13,766,624 8. Employees Retirement System General Information About the Pension Plan Plan Description The WRS is a cost-sharing multiple-employer defined benefit pension plan. WRS benefits and other plan provisions are established by Chapter 40 of the Wisconsin Statutes. Benefit terms may only be modified by the legislature. The retirement system is administered by the Wisconsin Department of Employee Trust Funds (ETF). The system provides coverage to all eligible State of Wisconsin, local government and other public employees. All employees, initially employed by a participating WRS employer on or after July 1, 2011 expected to work at least 1,200 hours a year (880 hours for teachers and school district educational support employees) and expected to be employed for at least one year from employee's date of hire are eligible to participate in the WRS. ETF issues a standalone Annual Comprehensive Financial Report (ACFR), which can be found at http: //etf.wi.gov/about-etf/reports-and-studies/financial-reports-and-statements. Additionally, ETF issued a standalone Wisconsin Retirement System Financial Report, which can be found using the link above. Vesting For employees beginning participation on or after January 1, 1990, and no longer actively employed on or after April 24, 1998, creditable service in each of five years is required for eligibility for a retirement annuity. Participants employed prior to 1990 and on or after April 24, 1998, and prior to July 1, 2011, are immediately vested. Participants who initially became WRS eligible on or after July 1, 2011, must have five years of creditable service to be vested. 37 Waterloo Water and Light Commission Notes to Financial Statements December 31, 2025 and 2024 Benefits Provided Employees who retire at or after age 65 (54 for protective occupation employees, 62 for elected officials and State executive participants, if hired on or before 12/31/2016) are entitled to a retirement benefit based on a formula factor, their final average earnings and creditable service. Final average earnings is the average of the participant's three highest earnings period. Creditable service includes current service and prior service for which a participant received earnings and made contributions as required. Creditable service also includes creditable military service. The retirement benefit will be calculated as a money purchase benefit based on the employee's contributions plus matching employer's contributions, with interest, if that benefit is higher than the formula benefit. Vested participants may retire at age 55 (50 for protective occupation employees) and receive an actuarially-reduced benefit. Participants terminating covered employment prior to eligibility for an annuity may either receive employee-required contributions plus interest as a separation benefit or leave contributions on deposit and defer application until eligible to receive a retirement benefit. The WRS also provides death and disability benefits for employees. Postretirement Adjustments The Employee Trust Funds Board may periodically adjust annuity payments from the retirement system based on annual investment performance in accordance with s. 40.27, Wis. Stat. An increase (or decrease) in annuity payments may result when investment gains (losses), together with other actuarial experience factors, create a surplus (shortfall) in the reserves, as determined by the system's consulting actuary. Annuity increases are not based on cost of living or other similar factors. For Core annuities, decreases may be applied only to previously granted increases. By law, Core annuities cannot be reduced to an amount below the original, guaranteed amount (the floor) set at retirement. The Core and Variable annuity adjustments granted during recent years are as follows: Core Fund Variable Fund Year Adjustment % Adjustment % 2015 29 2.0 2016 0.5 (5.0) 2017 2.0 4.0 2018 24 17.0 2019 0.0 (10.0) 2020 17 21.0 2021 5.1 13.0 2022 7.4 15.0 2023 16 (21.0) 2024 3.6 15.0 Contributions Required contributions are determined by an annual actuarial valuation in accordance with Chapter 40 of the Wisconsin Statutes. The employee required contribution is one-half of the actuarially determined contribution rate for general category employees, including teachers and Executives and Elected Officials. Starting January 1, 2016, the Executives and Elected Officials category was merged into the General Employee category. Required contributions for protective employees are the same rate as general employees. Employers are required to contribute the remainder of the actuarially determined contribution rate. The employer may not pay the employee required contribution unless provided for by an existing collective bargaining agreement. 38 Waterloo Water and Light Commission Notes to Financial Statements December 31, 2025 and 2024 The WRS recognized $74,361 and $66,188 in contributions from the Utility during the current and prior reporting periods, respectively. Contribution rates for the plan year reported as of December 31, 2025 and December 31, 2024 are: 2025 2024 Employee Employer Employee Employer General (including Executives and Elected Officials) 6.90 % 6.90 % 6.80 % 6.80 % Protective with Social Security 6.90 14.30 6.80 13.20 Protective without Social Security 6.90 19.10 6.80 18.10 Pension Liabilities, Pension Expense (Revenue), Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions At December 31, 2025, the Utility reported a liability (asset) of $79,478 for its proportionate share of the net pension liability (asset). The net pension liability (asset) was measured as of December 31, 2024, and the total pension liability used to calculate the net pension liability (asset) was determined by an actuarial valuation as of December 31, 2023 rolled forward to December 31, 2024. No material changes in assumptions or benefit terms occurred between the actuarial valuation date and the measurement date. The Utility's proportion of the net pension liability (asset) was based on the Utility's share of contributions to the pension plan relative to the contributions of all participating employers. At December 31, 2024, the Utility's proportion was 0.01442159%, which was an increase of 0.00059731% from its proportion measured as of December 31, 2023. At December 31, 2024, the Utility reported a liability (asset) of $70,655 for its proportionate share of the net pension liability (asset). The net pension liability (asset) was measured as of December 31, 2023, and the total pension liability used to calculate the net pension liability (asset) was determined by an actuarial valuation as of December 31, 2022 rolled forward to December 31, 2023. No material changes in assumptions or benefit terms occurred between the actuarial valuation date and the measurement date. The Utility's proportion of the net pension liability (asset) was based on the Utility's share of contributions to the pension plan relative to the contributions of all participating employers. At December 31, 2023, the Utility's proportion was 0.01382428%, which was an increase of 0.00038238% from its proportion measured as of December 31, 2022. For the years ended December 31, 2025 and 2024, the Utility recognized pension expense (revenue) of $100,578 and $(1,265), respectively. At December 31, 2025, the Utility reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: Deferred Deferred Outflows of Inflows of Resources Resources Differences between projected and actual experience $ 169,242 $ 176,943 Changes in assumption 16,341 - Net differences between project and actual earnings on pension plan 134,086 - Changes in proportion and differences between employer contributions and proportionate share of contributions 89 1,195 Employer contributions subsequent to the measurement date 78,457 - Total $ 398,215 $ 178,138 39 Waterloo Water and Light Commission Notes to Financial Statements December 31, 2025 and 2024 At December 31, 2024, the Utility reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: Deferred Deferred Outflows of Inflows of Resources Resources Differences between expected and actual experience $ 200,371 $ 313,156 Changes in assumption 22,806 - Net differences between project and actual earnings on pension plan 253,548 - Changes in proportion and differences between employer contributions and proportionate share of contributions 331 790 Employer contributions subsequent to the measurement date 74,361 - Total $ 551,417 $ 313,946 Deferred outflows related to pension resulting from the WRS Employer's contributions subsequent to the measurement date reported in the tables above will be recognized as a reduction of the net pension liability (asset) in the subsequent year. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pension will be recognized in pension expense as follows: Years Ending December 31: 2026 $ 42,407 2027 147,403 2028 (36,721) 2029 (11,469) 2030 - Thereafter - Total $ 141,620 40 Waterloo Water and Light Commission Notes to Financial Statements December 31, 2025 and 2024 Actuarial Assumptions The total pension liability in the actuarial valuation used in the current and prior year was determined using the following actuarial assumptions, applied to all periods included in the measurement: Actuarial Valuation Date: Measurement Date of Net Pension Liability (Asset): Experience Study: Actuarial Cost Method: Asset Valuation Method: Long-Term Expected Rate of Return: Discount Rate: Salary Increases: Wage Inflation Seniority/Merit Mortality: Postretirement Adjustments: * 2025 2024 December 31, 2023 December 31, 2024 January 1, 2021 - December 31, 2023, Published November 19, 2024 Entry Age Normal Fair Value 6.8% 6.8% 3.0% 0.1%-5.7% 2020 WRS Experience Mortality Table 1.7% December 31, 2022 December 31, 2023 January 1, 2018 - December 31, 2020, Published November 19, 2021 Entry Age Normal Fair Value 6.8% 6.8% 3.0% 0.1%-5.6% 2020 WRS Experience Mortality Table 1.7% * No postretirement adjustment is guaranteed. Actual adjustments are based on recognized investment return, actuarial experience and other factors. The percentages listed above are the assumed annual adjustment based on the investment return assumption and the postretirement discount rate. Includes the impact of known Market Recognition Account deferred gains/losses on the liability for dividend payments. 41 Waterloo Water and Light Commission Notes to Financial Statements December 31, 2025 and 2024 Long-Term Expected Return on Plan Assets The long-term expected rate of return on pension plan investments was determined using a building-block method in which best-estimate ranges of expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. The target allocation and best estimates of geometric real rates of return for each major asset class as of December 31, 2025 are summarized in the following table: Asset Allocation Targets and Expected Returns’ as of the Measurement Date December 31, 2024 Long-Term Long-Term Expected Expected Real Asset Nominal Rate Rate of Return Core Fund Asset Class Allocation % of Return % %2 Public Equity 38 % 7.0% 43% Public Fixed Income 27 6.1 34 Inflation Sensitive 19 48 21 Real Estate 8 6.5 38 Private Equity/Debt 20 95 6.7 Leverage? (12) 37 1.1 Total Core Fund® 100 75 48 Variable Fund Asset U.S. Equities 70 6.5 38 International Equities 30 74 4.7 Total Variable Fund 100 6.9 42 1 Asset Allocations are managed within established ranges; target percentages may differ from actual monthly allocations. 2 New England Pension Consultants' Long-Term U.S. CP! (Inflation) Forecast: 2.6%. 3 The investment policy used for the Core Fund involves reducing equity exposure by leveraging lower-volatility assets, such as fixed income securities. Currently, an asset allocation target of 12% policy leverage is used subject to an allowable range of up to 20%. 42 Waterloo Water and Light Commission Notes to Financial Statements December 31, 2025 and 2024 The target allocation and best estimates of arithmetic real rates of return for each major asset class as of December 31, 2024 are summarized in the following table: Asset Allocation Targets and Expected Returns’ as of the Measurement Date December 31, 2023 Long-Term Long-Term Expected Expected Real Asset Nominal Rate Rate of Return Core Fund Asset Class Allocation % of Return % %2 Public Equity 40 % 73% 45% Public Fixed Income 27 58 3.0 Inflation Sensitive 19 44 1.7 Real Estate 8 58 3.0 Private Equity/Debt 18 9.6 6.7 Leverage® (12) 37 1.0 Total Core Fund® 100 74 46 Variable Fund Asset U.S. Equities 70 6.8 4.0 International Equities 30 76 4.8 Total Variable Fund 100 73 45 1 2 3 Asset Allocations are managed within established ranges; target percentages may differ from actual monthly allocations. New England Pension Consultants' Long-Term U.S. CPI (Inflation) Forecast: 2.7%. The investment policy used for the Core Fund involves reducing equity exposure by leveraging lower-volatility assets, such as fixed income securities. Currently, an asset allocation target of 12% policy leverage is used subject to an allowable range of up to 20%. 43 Waterloo Water and Light Commission Notes to Financial Statements December 31, 2025 and 2024 Single Discount Rate A single discount rate of 6.80% was used to measure the total pension liability as of December 31, 2025 and December 31, 2024. As of December 31, 2025, this discount rate was based on the expected rate of return on pension plan investments of 6.80% and a long term bond rate of 4.08% (Source: "20-Bond GO Index" is the Bond Buyer Index, general obligation, 20 years to maturity, mixed quality as of December 31, 2024. In describing this index, the Bond Buyer notes that the bonds' average quality is roughly equivalent to Moody's Investors Services' Aa2 rating and Standard and Poor's Corp.'s AA.) As of December 31, 2024, the discount rate was based on the expected rate of return on pension plan investments of 6.80% and a long term bond rate of 3.77%. (Source: Fixed-income municipal bonds with 20 years to maturity that include only federally tax-exempt municipal bonds as reported in Fidelity Index's "20-year Municipal GO AA Index" as of December 31, 2023. In describing this index, Fidelity notes that the Municipal Curves are constructed using option-adjusted analytics of a diverse population of over 10,000 tax-exempt securities.) Because of the unique structure of WRS, the 6.80% expected rate of return implies that a dividend of approximately 1.7% will always be paid. For purposes of the single discount rate, it was assumed that the dividend would always be paid. The projection of cash flows used to determine this single discount rate assumed that plan member contributions will be made at the current contribution rate and that employer contributions will be made at rates equal to the difference between actuarially determined contribution rates and the member rate. Based on these assumptions, the pension plan's fiduciary net position was projected to be available to make all projected future benefit payments (including expected dividends) of current plan members. Therefore, the long-term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the total pension liability. Sensitivity of the Utility's Proportionate Share of the Net Pension Liability (Asset) to Changes in the Discount Rate The following presents the Utility's proportionate share of the net pension liability (asset) calculated using the current discount rate, as well as what the Utility's proportionate share of the net pension liability (asset) would be if it were calculated using a discount rate that is 1- percentage-point lower or 1-percentage-point higher than the current rate. The sensitivity analysis as of December 31, 2025 follows: 1% Decrease Current 1% Increase to to Discount Discount Rate Discount Rate Rate (5.80%) (6.80%) (7.80%) Utility's proportionate share of the net position liability (asset) $ 744736 $ 79,478 $ (393,328) The sensitivity analysis as of December 31, 2024 follows: 1% Decrease Current 1% Increase to to Discount Discount Rate Discount Rate Rate (5.80%) (6.80%) (7.80%) Utility's proportionate share of the net position liability (asset) $ 683,406 $ 70655 $ (358,026) Pension Plan Fiduciary Net Position Detailed information about the pension plan's fiduciary net position is available in separately issued financial statements available at http://etf.wi.gov/about-etf/reports-and-studies/financial- reports-and-statements. 44 Waterloo Water and Light Commission Notes to Financial Statements December 31, 2025 and 2024 9. Commitments and Contingencies Long-Term Contracts - WPPI Energy The electric utility is one of 51 WPPI Energy members located throughout the states of Wisconsin, Michigan and lowa. On December 1, 1989, each initial WPPI Energy member commenced purchasing electric service from WPPI Energy under a long-term Power Supply Contract for Participating Members (long-term contract). Under the long-term contract, WPPI Energy is obligated to provide and sell, and each member is obligated to take and pay for, the electric power and energy required for the operation of each member's electric utility. The long-term contract requires all WPPI Energy members to pay for power and energy requirements supplied or made available by WPPI Energy at rates sufficient to cover WPPI Energy's revenue requirement including power supply costs, administrative expenses and debt service. WPPI Energy's subsequent year's operating budget and rates are approved annually by its Board of Directors, consisting of representatives from each member. The members have agreed to charge rates to retail customers sufficient to meet their WPPI Energy obligations. The long-term contract provides that all payments to WPPI Energy constitute operating expenses of the Utility payable from any operating and maintenance fund established for that system. Fifty members, representing approximately 99.8% of WPPI Energy's existing load, have long-term contracts through December 31, 2055. The remaining member has a long-term contract through December 31, 2037. WPPI Energy's outstanding debt service obligation to be paid by its members through their wholesale power charges through the remainder of the long-term contract was $221 million as of December 31, 2025. Claims and Judgments From time to time, the Utility is party to various pending claims and legal proceedings. Although the outcome of such matters cannot be forecasted with certainty, it is the opinion of management and the utility's legal counsel that the likelihood is remote that any such claims or proceedings will have a material adverse effect on the utility's financial position or results of operations. Open Contracts The Utility has open contracts for approximately $22,640,210 for upgrading the existing Wastewater Treatment Facility (WWTF). As of December 31, 2025, approximately $22,338,142 has been expended. 10. Significant Customers Electric Utility The Utility has one significant customer who was responsible for 11% and 12% of operating revenues in 2025 and 2024, respectively. 11. Subsequent Events The Utility evaluated subsequent events through the date that the financial statements were available to be issued, for events requiring recording or disclosure in the financial statements. 45 REQUIRED SUPPLEMENTARY INFORMATION Waterloo Water and Light Commission Schedule of Proportionate Share of the Net Pension Asset - Wisconsin Retirement System Last 10 Fiscal Years Proportionate Plan Fiduciary Share of the Net Net Position Proportion Proportionate Pension Asset as a Percentage of the Net Share of the as a Percentage of the Total Fiscal Pension Net Pension Covered of Covered Pension Year Ending Liability (Asset) _Liability (Asset) Payroll Payroll Liability (Asset) 12/31116 0.01266419% $ 56,119 $ 470,700 11.92% 98.20% 12131117 0.01247212% 26,380 477,397 5.53% 99.12% 12/31118 0.01302015% (93,417) 540,500 17.28% 102.93% 12/31119 0.01313895% 126,918 483,090 26.27% 96.45% 12/31/20 0.01331104% (129,830) 624,015 20.81% 102.96% 12/31/21 0.01313816% (235,818) 650,232 36.27% 105.26% 12/31/22 0.01331569% (317,352) 686,932 46.20% 106.02% 12/31/23 0.01344190% 220,173 751,210 29.31% 95.72% 12/31/24 0.01382428% 70,655 877,738 8.05% 98.85% 12/31/25 0.01442159% 79,385 1,077,895 7.37% 98.79% Schedule of Employer Contributions - Wisconsin Retirement System Last 10 Fiscal Years Contributions in Relation to the Contributions Contractually Contractually Contribution as a Percentage Fiscal Required Required Deficiency Covered of Covered Year Ending Contributions Contributions (Excess) Payroll Payroll 12/31116 $ 32,463 $ 32,463 $ - $ 477,397 6.80% 12131117 36,754 36,754 - 540,500 6.80% 12/31118 36,367 36,367 - 483,090 7.53% 12/31119 41,497 41,497 - 624,015 6.65% 12/31/20 43,891 43,891 - 650,232 6.75% 12/31/21 46,375 46,375 - 686,932 6.75% 12/31/22 48,828 48,828 - 751,210 6.50% 12/31/23 66,188 66,188 - 877,738 7.54% 12/31/24 74,361 74,361 - 1,077,895 6.90% 12/31/25 78,457 78,457 - 1,128,890 6.95% See notes to required supplementary information 46 Waterloo Water and Light Commission Notes to Required Supplementary Information Year Ended December 31, 2025 Changes of benefit terms. There were no changes of benefit terms for any participating Changes of assumptions . 2019 - 2024 2025 2016 - 2018 Long-term expected rate of return 7.0% Discount rate 7.0% Salary increases: Inflation 3.0% Seniority/Merit 0.1%-5.6% Wisconsin 2018 Mortality Mortality Table Postretirement adjustments 1.90% 6.8% 6.8% 3.0% 0.1%-5.6% 2020 WRS Experience Mortality Table 1.70% These schedules are presented to illustrate the requirements to show information for 10 years. However, until a full 10-year trend is compiled, information is presented for those 47 6.8% 6.8% 3.0% 0.1%-5.7% 2020 WRS Experience Mortality Table 1.70% SUPPLEMENTARY INFORMATION Waterloo Water and Light Commission Electric Utility Plant Year Ended December 31, 2025 Balance Balance 1/1/25 Additions Retirements Adjustments 12/31/25 Distribution Land and land rights $ 48,940 $ -8 -8 -8 48,940 Structures and improvements 4,926 - - - 4,926 Station equipment 4,158,031 - - - 4,158,031 Poles, towers and fixtures 849,226 78,392 27,292 - 900,326 Overhead conductors and devices 578,434 59,505 22,755 (152) 615,032 Underground conduit 111,639 83,571 - (9,618) 185,592 Underground conductors and devices 2,461,121 235,413 26,101 (24,308) 2,646,125 Line transformers 1,031,576 74,268 - (3,700) 1,102,144 Services 776,304 32,666 3,556 (19,714) 785,700 Meters 500,540 37,042 107,845 59,472 489,209 Street lighting and signal systems 504,510 58,848 17,549 - 545,809 Total distribution 11,025,247 659,705 205,098 1,980 11,481,834 General Land and land rights 150,789 - - - 150,789 Structures and improvements 1,866,842 - - - 1,866,842 Office furniture and equipment 10,532 - - - 10,532 Computer equipment 47,207 30,680 - - 77,887 Transportation equipment 559,758 - - - 559,758 Stores equipment 12,672 - - - 12,672 Tools, shop and garage equipment 56,210 - - - 56,210 Laboratory equipment 9,080 - - - 9,080 Power-operated equipment 94,563 - - - 94,563 Communication equipment 8,219 - - - 8,219 Miscellaneous equipment 6,426 - - - 6,426 Total general 2,822,298 30,680 - - 2,852,978 Total electric utility plant $ 13847545 $ 690,385 $ 205,098 $ 1,980 $ 14,334,812 48 Waterloo Water and Light Commission Water Utility Plant Year Ended December 31, 2025 Source of Supply Land and land rights Wells and springs Supply mains Total source of supply Pumping Structures and improvements Electric pumping equipment Other pumping equipment Total pumping Water Treatment Water treatment equipment Transmission and Distribution Land and land rights Distribution reservoirs and standpipes Transmission and distribution mains Services Meters Hydrants Total transmission and distribution General Land and land rights Structures and improvements Office furniture and equipment Computer equipment Transportation equipment Stores equipment Tools, shop and garage equipment Laboratory equipment Power-operated equipment Communication equipment SCADA equipment Miscellaneous equipment Total general Total water utility plant Balance Balance 11/25 Additions Retirements Adjustments 12/31/25 $ 2,012 § -8 -8 -8 2,012 21,432 - - - 21,432 51,335 - - - 51,335 74,779 - - - 74,779 678,784 411,276 297,598 - 792,462 235,132 338,771 62,195 - 511,708 2,086 145,188 2,086 - 145,188 916,002 895,235 361,879 - 1,449,358 28,844 - - - 28,844 2,017 - - - 2,017 83,086 - 10,797 - 72,289 4,367,172 294,390 10,168 - 4,651,394 1,458,536 31,859 640 - 1,489,755 737,292 20,640 111,720 (12,440) 633,772 602,046 51,277 1,000 - 652,323 7,250,149 398,166 134,325 (12,440) 7,501,550 9,084 - - - 9,084 372,139 - - - 372,139 4,250 - - - 4,250 16,240 479 - - 16,719 104,304 - - - 104,304 7,262 - - - 7,262 33,820 - - - 33,820 2,042 - - - 2,042 62,072 - - - 62,072 1,560 - - - 1,560 141,251 37,940 - - 179,191 4,043 - - - 4,043 758,067 38,419 - - 796,486 $ 9,027,841 $1,331,820 $ 496,204 $ (12,440) $ 9,851,017 49 Waterloo Water and Light Commission Sewer Utility Plant Year Ended December 31, 2025 Balance Balance 1/1/25 Additions Retirements 12/31/25 Collecting System Collecting mains $ 3,442,746 $ 778,746 $ 19,842 $ 4,201,650 Force mains 25,320 - - 25,320 Other collecting system equipment 167,150 - - 167,150 Total collecting system 3,635,216 778,746 19,842 4,394,120 Collecting System Pumping Pump station equipment 117,049 - - 117,049 Electric pumping equipment 80,360 11,781 - 92,141 Total collecting system pumping 197,409 11,781 - 209,190 Treatment and Disposal Land and land rights 400 - - 400 Structures and improvements 3,458,083 13,562,454 1,897,839 15,122,698 Preliminary treatment equipment 352,372 484,280 352,372 484,280 Primary treatment equipment 72,245 109,753 63,473 118,525 Secondary treatment equipment 1,386,169 1,259,970 720,735 1,925,404 Advanced treatment equipment 269,230 1,891,449 223,197 1,937,482 Sludge treatment and disposal equipment 690,869 246,614 - 937,483 Plant site piping 348,047 3,664,858 348,047 3,664,858 Flow metering and monitoring equipment 43,231 20,377 - 63,608 Other treatment and disposal equipment 293,550 84,663 10,000 368,213 Total treatment and disposal 6,914,196 21,324,418 3,615,663 24,622,951 General Land and land rights 21,363 - - 21,363 Structures and improvements 578,659 - - 578,659 Office furniture and equipment 4,892 16,556 - 21,448 Computer equipment 20,101 560 - 20,661 Transportation equipment 105,754 1 - 105,755 Communication equipment 267,756 1,659,051 - 1,926,807 Other general equipment 209,748 44,609 - 254,357 Laboratory equipment - 74,189 - 74,189 Total general 1,208,273 1,794,966 - 3,003,239 Total sewer utility plant $ 11955004 $ 23909911 $ 3635505 $ 32,229,500 50 Waterloo Water and Light Commission Electric Utility Operating Revenues and Expenses Years Ended December 31, 2025 and 2024 Operating Revenues Sales of electricity: Residential Rural General service Small power Large power Public street and highway lighting Interdepartmental Total sales of electricity Other operating revenues: Forfeited discounts Miscellaneous service revenues Rent from electric property Other Total operating revenues Operating Expenses Operation and maintenance: Other power supply: Purchased power Distribution: Operation supervision and engineering Station Overhead line Underground line Street lighting and signal system Meter Customer installations Miscellaneous Maintenance: Supervision and engineering Overhead lines Underground lines Line transformers Total distribution Customer accounts: Meter reading Customer records and collection Total customer accounts Sales: Advertising 51 2025 2024 1,765,731 1,626,142 125,777 116,225 504,818 487,306 664,243 640,685 1,405,299 1,238,131 79,096 74,790 137,514 126,460 4,682,478 4,309,739 10,796 10,215 6,470 3,600 27,667 42,327 836 890 4,728,247 4,366,771 2,934,194 2,711,752 11,842 24,873 19,563 26,200 12,620 25,607 4,844 37,174 11,522 19,734 (12,288) 5,750 4,047 4,187 138,367 100,318 46,905 48,004 96,946 94,923 3,248 546 4,405 25,319 342,021 412,725 9,022 10,742 57,181 58,681 66,203 69,423 - (1,866) Waterloo Water and Light Commission Electric Utility Operating Revenues and Expenses Years Ended December 31, 2025 and 2024 Administrative and general: Salaries Office supplies Administrative expenses transferred Outside services employed Property insurance Employee pensions and benefits Regulatory commission Miscellaneous Maintenance Total administrative and general Taxes Total operation and maintenance Depreciation Total operating expenses Operating income 52 2025 2024 $ 71,659 $ 71,763 42,456 36,440 (31,857) (32,321) 18,984 76,047 14,561 15,604 171,555 138,975 671 22,977 51,337 49,045 54,344 69,581 393,710 448,111 46,062 41,130 3,782,190 3,681,275 429,692 411,040 4,211,882 4,092,315 $ 516365 $ 274,456 Waterloo Water and Light Commission Water Utility Operating Revenues and Expenses Years Ended December 31, 2025 and 2024 Operating Revenues Sales of water: Metered: Residential Commercial Industrial Public authorities Interdepartmental Service to other systems Total metered sales Private fire protection Public fire protection Total sales of water Other operating revenues: Forfeited discounts Other Total operating revenues Operating Expenses Operation and maintenance: Source of supply: Operation supervision and engineering Operation labor Total source of supply Pumping: Fuel or purchased power for pumping Pumping labor Miscellaneous Maintenance: Structures and improvements Pumping equipment Total pumping Water treatment: Chemicals Operation labor Maintenance: Water treatment equipment Total water treatment 53 2025 2024 399,123 402,934 93,804 121,683 80,877 85,004 14,406 14,584 10,733 18,638 8,987 9,895 607,930 652,738 6,900 6,900 271,833 272,537 886,663 932,175 2,607 2,738 40,513 42,181 929,783 977,004 17,941 17,669 12,715 13,133 30,656 30,802 22,785 19,562 14,821 16,209 4,413 5,961 200 2,358 49,291 375 91,510 44,465 9,269 12,944 9,735 8,377 1,172 1,525 20,176 22,846 Waterloo Water and Light Commission Water Utility Operating Revenues and Expenses Years Ended December 31, 2025 and 2024 Transmission and distribution: Storage facilities Transmission and distribution lines Meters Customer installations Miscellaneous Maintenance: Mains Services Hydrants Total transmission and distribution Customer accounts: Meter reading Accounting and collecting labor Total customer accounts Administrative and general: Salaries Office supplies Outside services employed Property insurance Employee pensions and benefits Regulatory commission Miscellaneous Maintenance Total administrative and general Taxes Total operation and maintenance Depreciation Total operating expenses Operating income 54 2025 2024 54 2,655 18,693 13,200 2,908 5,590 2,489 3,538 2,987 3,099 23,392 15,979 4,316 5,035 4,683 2,551 59,522 51,647 8,063 9,110 27,035 25,462 35,098 34,572 32,100 30,659 19,706 19,089 11,059 24,467 7,869 7,083 54,031 55,037 - 245 7,305 8,338 19,231 17,335 151,301 162,253 8,239 10,371 396,502 356,956 205,085 187,409 601,587 544,365 328,196 432,729 Waterloo Water and Light Commission Sewer Utility Operating Revenues and Expenses Years Ended December 31, 2025 and 2024 Operating Revenues Wastewater revenues: Residential Commercial Industrial Public authorities Service to other systems Total sewer revenues Other operating revenues: Forfeited discounts Miscellaneous Total operating revenues Operating Expenses Operation and maintenance: Operation: Supervision and labor Power and fuel for pumping Phosphorous removal chemicals Sludge conditioning chemicals Other operating supplies Total operation Maintenance: Collection system Treatment and disposal plant equipment General plant structures and equipment Total maintenance Customer accounts: Accounting and collecting Meter Reading Total customer accounts Administrative and general: Salaries Office supplies Outside services employed Insurance Employees pensions and benefits Miscellaneous Total administrative and general Taxes Total operation and maintenance Depreciation Total operating expenses Operating income 55 2025 2024 $ 1,073,409 $ 940,710 346,379 309,550 495,323 778,130 44,761 39,742 134,504 157,926 2,094,376 2,226,058 5,375 3,674 1,597 1,650 2,101,348 2,231,382 163,118 135,379 102,680 103,535 39,478 38,190 19,464 33,642 62,276 66,274 387,016 377,020 42,031 87,250 41,847 47,715 35,826 40,894 119,704 175,859 28,990 27,669 - 30 28,990 27,699 49,910 47,889 24,080 25,001 18,443 25,639 20,783 13,705 111,477 123,641 34,313 38,173 259,006 274,048 31,711 29,052 826,427 883,678 731,436 298,043 1,557,863 1,182,621 $ 543,485 $ 1,048,761 Waterloo Water and Light Commission Statements of Net Position - Sewer Utility December 31, 2025 and 2024 Assets and Deferred Outflows of Resources Current Assets Cash and investments Restricted assets: Redemption account Customer accounts receivable Total current assets Noncurrent Assets Restricted assets: Reserve account Replacement account Interest receivable Capital assets: Plant in service: Sewer Total plant in service Accumulated depreciation/amortization: Sewer Total accumulated depreciation/amortization Construction work in progress: Sewer Total construction work in progress Total noncurrent assets Total assets Deferred Outflows of Resources Deferred outflows related to pension 56 2025 2024 2970435 § 2,666,351 138,118 197,803 267,849 199,689 3,376,402 3,063,843 243,335 81,009 894,524 805,674 - 121 3220500 __ 11,955,004 32220500 __ 11,955,004 (4461119) __ (7371,702) (4461119) __ (7371,702) 520,491 18,387,199 520,491 18,387,199 20,426,731 23,857,485 32,803133 __ 26,921,328 125,849 147,920 Waterloo Water and Light Commission Statements of Net Position - Sewer Utility December 31, 2025 and 2024 Liabilities, Deferred Inflows of Resources and Net Position Current Liabilities Accounts payable Due to Municipality Accrued vacation leave Current liabilities payable from restricted assets: Current portion of revenue bonds Accrued interest Total current liabilities Noncurrent Liabilities Revenue bonds Accrued sick leave Net pension liability Total noncurrent liabilities Total liabilities Deferred Inflows of Resources Deferred inflows related to pension Net Position Net investment in capital assets Restricted for: Debt service Equipment replacement Unrestricted Total net position 57 2025 2024 1372600 $ 496,897 177,917 (501) 11,978 17,176 571,702 383,055 65,856 56,212 2,200,053 952,839 20,918,458 18,521,656 53,874 48,676 22935 21,202 20,995,267 18,591,534 23,195,320 19,544,373 43,840 83,029 6,798,712 4,065,880 315,597 217,743 894,524 810,742 1,680,989 2,347,481 0,689,822 $ 7,441,846 136 North Monroe Street Waterloo, WI 53594 Phone: (920) 478-3025 Fax: (920) 478-2021 www.waterloowi.us CITY OF WATERLOO NOTICE TO CUT OR DESTROY NOXIOUS WEEDS NOTICE IS HEREBY GIVEN to each and every person who owns, occuples or controls land in the City of Waterloo, Jefferson County, Wisconsin, to cut or destroy all canada thistle, leafy spurge and field bindweed, (creeping charlie) and in addition all other rank growth of vegetation, all weeds, grasses and plants over 12 inches in height on all lands owned, occupied or controlled by you in sald City, at such time and in such manner as shall effectively prevent them from bearing seed, or spreading to adjoining property, as required by Section 66.0407 of the Wisconsin Statutes. Chad Yerges Weed Commissioner City of Waterloo POSTED: May 1, 2026 136 North Monroe Street Waterloo, WI 53594 Phone: (920) 478-3025 Fax: (920) 478-2021 www.waterloowi.us STATE OF WISCONSIN) COUNTY OF JEFFERSON) SS. CITY OF WATERLOO) Chad Yerges, Weed Commissioner, being first duly sworn, says that on the 15% day of May 2026, he posted the Notice to Cut or Destroy Noxious Weeds in at least four conspicuous places in the City of Waterloo. Said notices were posted as follows: One One One One One notice notice notice notice notice at at at at at corner of State Hwy 89 north and Clarkson Road the corner of State Hwy 19 west and Canal Road County Trunk "O" south and Waterloo Road State Hwy 89 east and Fischer Road State Hwy 19 east and Heil Street Chad Yerges, Weed Commissioner Subscribed and sworn to before me this 1st day of May 2026. Notary Public, Jefferson County, WI My Commission Expires 04-08-2029. STATE OF WISCONSIN CITY OF WATERLOO JEFFERSON COUNTY NOTICE OF OPEN BOOK, April 16, 2026 (by phone)—9:00 A.M. TO 12:30 P.M. BOARD OF REVIEW MEETING May 13, 2026, 9 a.m. Notice is hereby given that the 2026 Assessment Roll of the City of Waterloo will be open for examination, the assessor shall be available on April 16, 2026 by phone from 9:00 a.m. to 12:30 p.m. All property owners whose real estate assessment was changed will receive a written notice of their new and former assessments. Notice is hereby given that the Board of Review for the City of Waterloo, Jefferson County, Wisconsin, shall hold its meeting on May 13%, at 9:00 a.m., in the Council Chambers of the Municipal Building. Please be advised of the following requirements to appear before the board of review and procedural requirements if they appear before the board: . No person will be allowed to appear before the board of review, to testify to the board by telephone, or to contest the amount of any assessment of real or personal property if the person has refused a reasonable written request by certified mail of the assessor to view the property. . After the first meeting of the board of review and before the board's final adjournment, no person who is scheduled to appear before the board of review may contact or provide information to a member of the board about the person's objection, except at a session of the board. . The board of review may not hear an objection to the amount or valuation of property unless, at least 48 hours before the board's first scheduled meeting, the objector provides to the board's clerk written or oral notice of an intent to file an objection, except that upon a showing of good cause and the submission of a written objection, the board shall waive that requirement during the first 2 hours of the board's first scheduled meeting, and the board may waive that requirement up to the end of the 5th day of the session or up to the end of the final day of the session if the session is less than 5 days with proof of extraordinary circumstances for failure to meet the 48-hour notice requirement and failure to appear before the board of review during the first 2 hours of the first scheduled meeting. . Objections to the amount or valuation of property shall first be made in writing and filed with the clerk of the board of review within the first 2 hours of the board's first scheduled meeting, except that, upon evidence of extraordinary circumstances, the board may waive that requirement up to the end of the 5th day of the session or up to the end of the final day of the session if the session is less than 5 days. The board may require objections to the amount or valuation of property to be submitted on forms approved by the Department of Revenue, and the board shall require that any forms include stated valuations of the property in question. People who own land and improvements to that land may object to the aggregate valuation of that land and improvements to that land, but no person who owns land and improvements to that land may object only to the valuation of that land or only to the valuation of improvements to that land. No person may be allowed in any action or proceedings to question the amount or valuation of property unless the written objection has been filed and that person in good faith presented evidence to the board in support of the objections and made full disclosure before the board, under oath, of all that person's property liable to assessment in the district and the value of that property. The requirement that objections be in writing may be waived by express action of the board. 5. When appearing before the board of review, the objecting person shall specify in writing the person's estimate of the value of the land and of the improvements that are the subject of the person's objection and specify the information that the person used to arrive at that estimate. 6. No person may appear before the board of review, testify to the board by telephone, or object to a valuation if that valuation was made by the assessor or the objector using the income method of valuation, unless the person supplies the assessor with all the information about income and expenses, as specified in the assessor's manual under s. 73.03 (2a), Wis. stats., that the assessor requests. The City of Waterloo has an ordinance for the confidentiality of information about income and expenses that is provided to the assessor under this paragraph that provides exceptions for persons using information in the discharge of duties imposed by law or the duties of their officer or by order of a court.* The information that is provided under this paragraph, unless a court determined that it is inaccurate, is not subject to the right of inspection and copying under s. 19.35 (1), Wis. stats. 7. The board shall hear upon oath, by telephone, all ill or disabled persons who present to the board a letter from a physician, surgeon, or osteopath that confirms their illness or disability. No other person may testify by telephone unless the Board, in its discretion, has determined to grant a property owner’s or their representative’s request to testify under oath by telephone or written statement. 8. No person may appear before the board of review, testify to the board by telephone, or contest the amount of any assessment unless, at least 48 hours before the first meeting of the board, or at least 48 hours before the objection is heard if the objection is allowed under 5.70.47 (3) (a), Wis. stats., that person provides to the clerk of the board of review notice as to whether the person will ask for the removal of a member of the board of review and, if so, which member, and provides a reasonable estimate of the length of time the hearing will take. Notice is hereby given on this 24 day of March, 2026. Jeanne M. Ritter City Clerk/Treasurer Posted: March 24, 2026 Municipal Building, 136 N Monroe Street ‘Waterloo Post Office, 241 W Madison Street Karl Junginger Memorial Library, 625 N Monroe Street ‘Waterloo Utilities, 575 Commercial Ave Publish: The Leader Independent, April 2, 2026 Department of Revenue has created form PA-814 for requesting to testify by phone or written statement 136 North Monroe Street Waterloo, WI 53594 Phone: (920) 478-3025 Fax: (920) 478-2021 www.waterloowi.us PARKS COORDINATOR REPORT Jan 2026 — March 2026 EVENTS AND HIGHLIGHTS ® No Park Events e Successful Wedding and 2 Auctions in Pavilion ONGOING PROJECTS * RFP’sfor: o Upper Pavilion Ceiling o Sidewalk Replacement FINISHED PROJECTS e Bathroom Vanities o All Vanities and sinks in outdoor and indoor bathrooms updated * New Coolers o New Coolers for Roundhouse, kitchen and Lower Pavilion have been installed ® Field Lazer S100 Field Liner e Skalitzky Field Sound System o Install on April 8th CAROUSEL e Carousel and Carvings (Ohio) o 2 more Crankshafts are in Ohio o Possible finish of the rest in 2027 PROJECTS FOR 2026 e Upper Pavilion Walls * Lower Pavilion Renovation e Upper Pavilion Ceiling e Sidewalk Replacement UPCOMING EVENTS e Easter Egg Hunt —April 4, 2026 e Spring Clean — April 18, 2026 DONATION CAMPAIGNS e Lions Fountain Head e Dog Park GRANT OPPORTUNITIES ® Carousel Grants o Save America’s Treasure, Paul Bruhn Historic Revitalization, NCA e Antique Grants — Lions Fountain o Wisconsin Antiques Dealers Association e RTP Trail Grant Waterloo Fire/EMS Meeting Minutes March 23, 2026 Called to order at 7:30 p.m. Roll call sent around. Members signed in. Minutes read by Tina Lange via Zoom. Approved by Wes Benisch, 2™ by Craig Stobel. No Public Comments. OLD BUSINESS: 1. EMS schedule —looking good. Just check during the month. No vacations this month. a. Wes Benisch did say he would cover EMS shift on Saturday March 28t if the full time wanted to attend the live burn. 2. New ambulance update — a. 2" Lt. Jason Butzine stated it has some cosmetic issues getting redone. Rig is back down in NC. 3. Policy updates — No movement. SOP’s —initial response was updated. No questions on this. 5. SOG updated — a. Chief sent around updated forms for Re-imbursement forms and Training request forms. These must have approval before attending or there is a possibility that it will not be covered due to budget. Need approval — request should be in 2 weeks or more prior to class/event. c. When completed course/event — proof of completion needs to be handed in within 30 days. 6. Waterloo Fire/EMS department FaceBook page — going very well. Kevin Seibert removed the old link to the website. Any suggestions for content see Kevin. 7. Member’s emails have been updated. * a. Regarding Information for members — will be sending over IAResponding with links/downloads. Will also be sending to emails. NEW BUSINESS: 1. Next month’s trainings: a. EMS —Quarterlies with Aurora. EMT licensing renewal checkups. i. EMS training coordinator Chris Butzine went through the new Google Classroom sign up. This will be holding our renewal information and education for upcoming trainings. FIRE — Live burns and searches with house. MPO — Control burns at TREK prairie area on Canal Rd. Also, Gun Club area. d. Reminder JOINT training next Monday. RTF training. Will be at Middle school. Volunteers will be down at 5p. Eal oo March Meeting Min. Cont. 2. Upcoming trainings: a. Watertown HOT training — May 3, 2026. Will be using Michael’s house for live burns. b. TICTraining — Iron Ridge FD —3/28/26 c. POST mental health training — Watertown H.S. — 8/29/26 d. Marshall hosting live burn training — Cherry Lane 3/28/26. 3. Hose Testing — Saturday April 11, 2026 a. Sign up went around for who will be around that day. EMS is invited to help out. Whatever is not tested that day, the rest will be during the week. 4. Craig Strobel brought up this year is 60" Anniversary of our EMS Service. Discussion was made regarding holding event/open house. A Supporters “special” meeting held after meeting is over. Looking at possibility of May 17" for date. 5. Tirri Goodrich stated National Registry needs to be in by March 31%. This is also good for state renewal. 6. Probationary member voting: Cassandra Theis 17 yes, 2 no. Welcomed Cassie. Warm healing thoughts to Jeremy Ellis as he had knee surgery today. 8. Truck Starters: a. EMS —Tirri Goodrich, Tina Lange, Keenan Hering. b. Fire —Matt Petrie, Saul Estrada and Daniel Aguero ~ Meeting Adjourned at 8:16 p.m. WATERLOO FIRE & RESCUE 900 INDUSTRIAL LANE Department Activity Report — 2026 Call Report for the month of March EMS Calls: City of Waterloo 23 Town of Waterloo 2 Town of Waterloo Extra 1 Town of Portland 4 Mutual Aid for Watertown 1 2" out Unit City of Waterloo 3 Total EMS 34 EMS & Fire Motor Vehicle Crash Calls: City of Waterloo 1 Total MVC 1l Alarms: City of Waterloo 0 Fire Calls: Town of Waterloo 1 Mutual Aid for Sun Prairie 1 Mutual Aid for Watertown 5 Mutual Aid for Lake Mills 3 Mutual Aid for Jefferson 1 Hazardous Condition: City of Waterloo 2 Weather Related Call: Waterloo Fire District 0 Service Calls: City of Waterloo 5 Town of Portland 1 Rescue Calls: City of Waterloo 0 Total Fire 19 March Total 54 Up to Date Call Totals Fire (Structure, Wild land, Motor Vehicle) 17 Rescue/EMS: BLS-50 ALS-30 80 Hazardous Conditions (No Fire) 8 False Alarm or Call 2 Motor Vehicle Crash 3 Service Calls 16 Rescue Calls 0 Weather Related Calls 0 Up to Date Total 126 Fire Mutual Aid Given 14 _Fire Mutual Aid Received 2 2% Qut Unit3 3 Out Unit 0 _EMS Mutual Aid Given 1 _EMS Mutual Aid Received 2 Paramedic Intercept 2 Total Personnel Response: 594 (for the month): 255 Monthly Response Time (EMS Incidents) 93_(From 1% page to enroute times) average 2.8 min (for the month) Minutes Spent Responding 105 (Enroute time to on scene time) average 3.1 min (for the month) Monthly Response Time (FIRE Incidents) 45_(From 1 page to enroute times) average 4.5 min (for the month) Minutes Spent Responding 40 _(Enroute time to on scene time) average 4.0 min (for the month) EMS Mutual Aid Average Enroute_1 Scene_7_ FIRE Mutual Aid Average Enroute_4.5 Scene_ 12.8 (920) 478-2535 . FAX (920) 478-9597 chief@waterloowi.us WATERLOO FIRE & RESCUE 900 INDUSTRIAL LANE WATERLOO, WISCONSIN 53594 e On Monday March 2", 2026 we had our monthly Operators training. Training was on driving skills and set up locations. We have had some members go through tender, operators and aerial courses and need to complete driver training to be able to be signed off to drive on emergency calls. On Monday March 9, 2026 we had our monthly EMS training. Training was on respiratory distress. There were 3 scenarios set up. 1% scenario was acute respiratory distress, 2" was acute chronic respiratory distress, 3 was on airway equipment and location in the ambulances. The members have to figure out what is happening with the patient, seeing the patient and what their vitals are and treat them properly. On Monday March 16", 2026 we had our monthly Fire training. Training was on air consumption testing and RIT (Rapid Intervention Team) removals. The members have to go through a SCBA (self-contained breathing apparatus) air consumption test. They have to don all firefighter gear and work till low alarm goes off and then sit down and control their breathing to have the bottle last as long as they can. This test is for the members to know their work load while on air and how to control their breathing if they get trapped. The RIT removals are to show the members all the different ways to remove a firefighter and went over how to remove victims also. On Monday March 30", 2026 we had our quarterly combination training. Training was on RTF (Rescue Task Force). This training was held at the middle school. We had about 13 volunteers that helped out being our victims, which was great to have they came from all over to help us out: The Waterloo Fire Rescue and the Waterloo Police Department worked together on this training. This training is in case of an active threat with people injured. The police, fire and EMS have to work as a team to get to all victims treat and remove them from the situation and get them ready for transport to ER. Other trainings/schooling: We have multiple members working on finishing their driver training to be able to drive the apparatus to emergencies. We have two members that are going through an aerial course. We had three members finish firefighter I course and are going through their hazmat course. We have one member going through Fire Officer II course. We had three members complete an online course for RTF (Rescue Task Force). The Waterloo and Marshall Fire Department had a training together. The training was live fire training at a residence that Marshall acquired and invited us to train with them. We had about 12 of our members go through the training. Conferences: We had one member go to the Wisconsin Firefighter conference. This was a three-day conference. Events: Vitals at the library. We installed 2 lifeline systems and fixed 3 of them. We completed a CPR/stop the bleed and life-threatening medical skills training with the police department. Si | Lieutenét Jason Butzine Waterloo Fire Rescue 900 Industrial Lane Waterloo WI 53594 920-478-2535 Lt@waterloowi.us (920) 478-2535 . 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Items- $125.00 3/25/2026 60.00% $75.00 Commercial 26WTRC-E00003 Subtotal $75.00 Waterloo, W, City of Invoice Number: Invoice Date: 3/31/2026 Page: 2 Fee Type Amt Paid Paid Date % Due to 3rd Party Amt Due to 3rd Party Permit # 26WTRC-F00001 | 535 Bradford Drive, Waterloo, Wi 53594 | Fence Other Fee- Residential $50.00 3/23/2026 60.00% $30.00 26WTRC-F00001 Subtotal $30.00 Permit # 26WTRC-H00005 | 291 Goehl Road, Waterloo, WI 53594 | HVAC Permit HVAG- Replacement & Misc. Items- $55.00 3/3/2026 60.00% $33.00 Residential 26WTRC-H00005 Subtotal $33.00 Permit # 26WTRC-H00006 | 120 East Madison Street, Waterloo, Wi 53594 | HVAC Permit HVAC- Replacement & Misc. Items- $160.00 3/3/2026 60.00% $96.00 Residential 26WTRC-H00006 Subtotal $96.00 Permit # 26WTRC-H00007 | 995 Goehl Road, Waterloo, WI 53594 | HVAC Permit HVAC- Replacement & Misc. Items- $66.69 3/5/2026 60.00% $40.01 Residential 26WTRC-H00007 Subtotal $40.01 Permit # 26WTRC-H00008 | 130 Minnetonka Way, Waterloo, WI 53594 | HVAC Permit HVAC- Replacement & Misc. Items- $136.80 3/23/2026 60.00% $82.08 Residential 26WTRC-H00008 Subtotal $82.08 Permit # 26WTRC-P00002 | 245 North Monroe Street, Waterloo, Wi 53594 | Plumbing Permit - Commercial Plumbing- New $139.44 3/3/2026 60.00% $83.66 Building/Addition/Alterations- Comme 26WTRC-P00002 Subtotal $83.66 Permit # 26WTRC-P00003 | 628 Hiawatha Trail, Waterloo, Wl 53594 | Plumbing Permit Plumbing- Replacement & Misc. Items- $50.00 3/5/2026 60.00% $30.00 Residential 26WTRC-P00003 Subtotal $30.00 Permit # 26WTRC-P00004 | 443 Edison Street, Waterloo, Wl 53594 | Plumbing Permit Plumbing- Replacement & Misc. Items- $120.00 3/23/2026 60.00% $72.00 Residential Plumbing- Replacement & Misc. Items- $120.00 3/23/2026 60.00% $72.00 Residential - 26WTRC-P00004 Subtotal $144.00 Permit # 26WTRC-P00005 | 442 Edison Street, Waterloo, W1 53594 | Plumbing Permit Plumbing- Replacement & Misc. ltems- $50.00 3/30/2026 60.00% $30.00 Residential 26WTRC-P00005 Subtotal $30.00 Waterloo, WI, City of Invoice Number: Summary by Fee Type Item Code Building Plan Review Fees Commerical New Structure/Addition Electrical- New Building/Additon/Alterations- Comm Electrical- New Building/Additon/Alterations- Resi Electrical- Replacement & Misc. Items- Commercial Erosion Control- Commercial HVAC- Replacement & Misc. Items- Residential Occupancy Permit- Commercial Other Fee- Residential Plumbing- New Building/Addition/Alterations- Comme Plumbing- Replacement & Misc. Items- Residential Remodel- Residential Residential New Dwelling/Additon Total Amount $630.00 $669.56 $207.26 $423.00 $75.00 $510.00] $251.09 $42.00 $69.00] $83.66) $204.00 $900.00 $75.00 $4,139.57 Please remit to: SAFEbuilt LLC Lockbox #88135 PO Box 88135, Chicago, IL 60680-1135 Department Approval Clerk/Treasurer Approval______ Vendor Number, w0 JOB =S~ < és Acct Dist Acct Dist, Date, Invoice Date: 3/31/2026 Net Invoice: Freight: Sales Tax: Invoice Total: QA0 - 9D Page: 3 $4,139.57 $0.00 $0.00 $4,139.57 WATERLOO POLICE DEPARTMENT OFFICER’S DAILY-FEB Patrol: | 385 Office: | 124 Investigative: 25 Special: 4 Radar: | 172 School/Training: 2 Court: 4 On Call: otat-Hetrs Worked: 716 COMPLAINTS ACCIDENTS Warnings | Arrests Family: 0 More than $1,000: 2 Speeding: 12 2 Off Road Vehicles: 0 Less than $1,000: 0 Too Fast For Conditions: 0 0 Vandalism: 0 Pedestrian Accidents: 0 Inattentive Driving: 0 0 Minor Theft - $500: 1 Bicycle Accidents: 0 Failure to Yield: 0 0 Major Theft + $500: 1 Number Injured: 0 Stop Sign Violation: 1 1 Burglary: 0 Number Killed: 0 lllegal Passing: 0 0 Doors Found Open: 0 TOTAL ACCIDENTS: 2 No Driver’s License: 0 1 Animal Case: 3 lllegal Parking: 1 19 Late Bar Closings: 0 ASSISTS Left of Highway: 0 0 Alarms: 1 Assist Jefferson County: 1 Drunk Driving: 0 0 Loud Music/Parties: 0 Assist Dodge County: 5 Unregistered Vehicle: 4 1 Tavern Complaints: 0 Assist Dane County: 2 Driving While Sus/Rev: 0 4 Prowler Complaints: 0 Assist Marshall PD: 3 Hit And Run: 0 0 Battery to Person: 0 Assist Fire/Rescue: 25 Off Road Vehicle: 0 0 Domestic Abuse: 0 Assist Other Agencies: 6 Power Display: 0 0 Sexual Assault: 0 Assist Public: 54 Equipment: 22 1 Runaways: 1 Assist With Escort: 0 lllegal “U” Turn: 2 2 Worthless Checks: 0 Assist All Others: 6 Following Too Close: 0 0 All Other Complaints: 33 TOTAL ASSISTS: | 102 Seatbelt Violation: 0 1 TOTAL COMPLAINTS: 40 ALL OTHER TRAFFIC: 4 0 TOTAL 46 28 MISCELLANEOUS Personal Contacts: | 858 Disorderly Conduct: 0 0 S | Investigations/Follow-up: 24 Underage Alcohol: 0 0 Registration Checks: 531 Traffic Control: 0 Warrants: 0 1 D.L. Checks: | 526 Radar Operations: 246 Theft: 0 0 NCIC/CIB/VIN Checks: 0 Special Assignment: 0 Trespassing: 0 0 Check Welfare: 8 Speech/Presentation: 0 Burglary/Break & Enter: 0 0 TOTAL INQUIRIES: 1065 Serve Papers: 2 Vandalism: 0 0 Other Miscellaneous: 0 ALL OTHER MIS/CRIM: 1 2 TOTAL: | 1130 TOTALS: 1 3 Waterloo Police Department -- (920) 478-2343 04/13/2026 02:34 PM Monthly Incident Comparison Report Page: 1 Report Criteria: Current Month: 3/2026 Category Description Current Prior Year To Same Mo. Last Year Month Month Date Last Year No Category Assist Columbia County Sheriff 0 0 0 0 1 Blank Description 0 0 0 0 4 unlawfisl U-turn 0 0 0 [ 1 Total for No Category: 0 0 0 0 6 ASSIST Assist Business 0 0 0 0 1 Assist Citizen 0 2 4 0 9 Assist Dane County Sheriff 0 0 0 0 4 Assist Dodge County Sheriff 3 2 7 0 17 Assist Jefferson County Sheriff 0 0 4 2 8 Assist Marshall PD 2 2 8 2 39 Assist Social Services 1 0 1 3 12 Assist Watertown PD 0 0 0 0 3 Assist/School District 4 1 1 0 1 Civil Dispute 0 0 3 1 4 Custody for Other Department 0 0 0 0 1 EMS Calls 0 0 4 0 4 Fire Calls 0 0 1 0 3 Neighbor Problems 0 0 0 1 1 Other Mutual Aid Assists 1 0 1 0 1 Sex Offender Registration 0 0 0 0 1 Total for ASSIST: 7 7 26 9 109 CRIMINAL Attempted Crime 0 1 1 0 0 Bail Jumping/Escapes 0 1 1 0 1 Burglary - Attempted Non-Residential 0 0 0 0 1 Child Enticement 0 0 0 1 2 Criminal Damage To Property/vandalism 2 0 2 0 3 Disorderly Conduct - All Other 1 0 1 2 H Disorderly Conduct - Fight, Disturbance 0 0 0 1 7 Domestic Disturbance 0 1 1 1 13 Domestic Offense - Child Abuse/Neglect 0 0 1 0 1 Drug Investigations 0 1 1 0 3 Drug Possession 4 0 0 0 1 Endanger Safety/Reckless Behavior 0 0 0 0 1 Forgery/Counterfeiting 0 0 0 0 0 Fraud 1 0 1 1 9 Harassment - Stalking 0 0 0 0 1 Harassment - Threats 4 0 0 0 2 Obstruct/Resist Police Officer 0 0 0 0 1 ‘Waterloo Police Department -- (920) 478-2343 04/13/2026 02:34 PM Monthly Incident Comparison Report Page: 2 Report Criteria: Current Month: 3/2026 Category Description Current Prior Year To Same Mo. Last Year Month Month Date Last Year CRIMINAL Other Sex Offenses [ 0 0 0 1 Probation/Parole Violation [ 0 0 0 1 Theft - All Other 1 1 2 2 10 Theft - From Building 0 0 0 0 2 Theft - From a Motor Vehicle 0 0 0 0 1 ‘Theft - Retail/Shoplifting 0 0 0 0 4 Total for CRIMINAL: 5 5 1 8 70 ORDINANCE Abandoned Property/Vehicle Violation 4 0 0 1 1 Animal Bite 0 2 3 4 8 Animal Licensing/Shots/Etc. 0 0 0 0 3 Animal Noise Complaint 0 0 0 0 6 Animal Running at Large 0 1 1 0 0 Contributing to Delinquency of a Minor 0 0 0 1 1 Disturbance 0 1 1 0 2 Harassment 1 0 1 0 0 Illegal Dumping [ 0 0 0 3 Municipal Code Violation 2 0 2 0 8 Possession of Tobacco by Minor [ 0 [ 0 1 Total for ORDINANCE: 3 4 8 2 33 Other Investigation/Take Report 0 0 0 0 2 Other Animal Calls - Dead, Etc. 1 0 1 1 2 Receive Information 3 1 5 1 36 Request Assist 0 0 0 1 1 Total for Other: 4 1 6 3 41 SERVICE Death Investigation 0 0 0 0 1 Found Items/Property 0 2 3 1 18 Lost Items/Property 0 0 0 0 1 § Paper Service/Civil Process 0 0 0 0 1 | Suspicious Vehicle 1 0 1 0 0 Uncontrollable Juvenile 0 0 0 0 1 ‘Warrant Pickup - Other Agency 1 0 1 0 7 * Welfare Check 2 2 4 1 4 Total for SERVICE: 4 4 9 2 43 TRAFFIC Driver's License Violations (Ex OAS/OAR) 6 5 18 2 67 Illegal Tums 3 1 8 0 14 Lane Violations - Left of Center, Etc. 0 0 0 0 1 License/Permit Violation 0 1 1 0 4 ‘Waterloo Police Department -- (920) 478-2343 04/13/2026 02:34 PM Monthly Incident Comparison Report Page: 3 Report Criteria: Current Month: 3/2026 Category Description Current Prior Year To Same Mo. Last Year Month Month Date Last Year TRAFFIC Miscellaneous Rules Violation 0 0 0 0 5 Motor Vehicle Insurance Violation 0 1 5 0 10 OAS/OAR/Other License Violations 0 1 2 2 6 Open Intoxicants - Driver 0 1 1 0 0 Operate Motor Vehicle While Intoxicated 0 0 0 0 5 Other Traffic Violations 0 1 1 0 0 Power Display/Squeal Tires 2 0 2 0 0 Reckless Driving 2 0 2 0 0 Registration/Title Violation 0 1 3 0 7 Seatbelt Violation 0 0 0 0 1 Waterloo Police Department -- (920) 478-2343 04/13/2026 02:34 PM Monthly Incident Comparison Report Page: 4 Report Criteria: Current Month: 3/2026 Category Description Current Prior Year To Same Mo. Last Year Month Month Date Last Year TRAFFIC Speeding Violation 3 5 12 1 83 Stop Sign/Signal Violation 3 0 9 1 18 Traffic Accident - Hit and Run (Damage) 0 0 0 0 7 Traffic Accident - Hit and Run (Injury) 0 0 0 0 2 Traffic Accident - Non-Reportable 0 0 0 0 1 Traffic Accident - Property Damage 2 0 6 2 21 Vehicle Equipment Violation - Lights 0 0 2 0 0 Vehicle Equipment Violation - Other 0 0 2 0 2 Total for TRAFFIC: 21 17 74 8 254 Grand Totals: 44 38 134 32 556 ‘Waterloo Police Department -- (920) 478-2343 04/13/2026 02:35 PM Court Calendar Report Page: 1 Report Criteria: Start Date End Date Officer Court Type 03/17/2026 03/17/2026 ALL ALL Court Date Name Ticket Officer/Court Type 03/17/26 ASKEW,LEONARD,JOSHUA DOB: 03/28/97 No: T-BH527246-6 WARNER,DAVID,N 11:00 AM 1141 W MAIN ST # 121 Age: 28 Issued: 01/30/26 SUN PRAIRIE WI, 53590 Inc# 26-000052 Comments: OFFICER: BADGE #: 11, NAME: DAVID N WARNER Charge Description Fine Collected 346.57(5) EXCEEDING SPEED ZONES, ETC. $200.50 $0.00 (16-19 MPH) 03/17/26 ASKEW,LEONARD,JOSHUA DOB: 03/28/97 No: T-BH527247-0 WARNER,DAVID,N 11:00 AM 1141 W MAIN ST # 121 Age: 28 Issued: 01/30/26 SUN PRAIRIE WI, 53590 Inc# 26-000052 Comments: OFFICER: BADGE #: 11, NAME: DAVID N WARNER Charge Description Fine Collected 341.04(1) NON-REGISTRATION OF AUTO, ETC $175.30 $0.00 03/17/26 BUSTAMANTE SOTO,JOSE,G DOB: 03/31/70 No: T-BH527248-1 BURNS,RANDY 11:00 AM 9101 SADDLEHORN DR APT 201 Age: 55 Issued: 02/07/26 FORT WORTH TX, 76116 Inc# 26-000061 Comments: OFFICER: BADGE #: 12, NAME: RANDY B BURNS Charge Description Fine Collected 346.57(5) EXCEEDING SPEED ZONES, ETC. $175.30 $0.00 (11-15 MPH) 03/17/26 CRAWFORD,AMBER P DOB: 04/10/75 No: T-BHS27245-5 WARNER,DAVID,N 11:00 AM 512 SOUTHTOWNE DR APT X203 Age: 50 Issued: 01/30/26 SOUTH MILWAUKEE WI, 53172 Inc#: 26-000051 Comments: OFFICER: BADGE #: 11, NAME: DAVID N WARNER Charge Description Fine Collected 344.62(1) OPERATE MOTOR VEHICLE W/O $200.50 $0.00 INSURANCE 0317126 - poB: No: [N | 11:00 AM | Age: W Issued: [N I N Comments: OFFICER: BADGE #: 18, NAME: KYLE M STORMOEN Charge Description Fine Collected I I _| ] Waterloo Police Department -- (920) 478-2343 04/13/2026 ~ 02:35 PM Court Calendar Report Page: 2 Report Criteria: Start Date End Date Officer Court Type 03/17/2026 03/17/2026 ALL ALL CourtDate Name Ticket Officer/Court Type 03/17/26 KOPELKE,CONNOR,GLENN DOB: 01/26/97 No: T-BI837635-1 AGUERO,DANIEL,A 11:00 AM 111 W MAIN ST #2 Age: 28 Issued: 01/08/26 MARSHALL WI, 53559 Comments: DID NOT COMPLY WITH 10 DAY REPAIR NOTICE THAT WAS ISSUED ON 01-08-26. A 10 DAY NOTICE LETTER WAS ALSO SENT THROUGH THE MAIL ON 01-30-26. OFFICER: BADGE #: 20, NAME: DANIEL A AGUERO Charge Description Fine Collected 347.13(3) OPERATE VEHICLE W/O $150.10 $0.00 REGISTRATION LAMPS 03/17/26 KOPELKE,CONNOR,GLENN DOB: 01/26/97 No: T-BJ837636-2 AGUERO,DANIEL,A 11:00 AM 111 W MAIN ST #2 Age: 28 Issued: 01/08/26 MARSHALL WI, 53559 Comments: DID NOT COMPLY WITH 10 DAY REPAIR NOTICE THAT WAS ISSUED ON 01-08-26. A 10 DAY NOTICE LETTER WAS ALSO SENT THROUGH THE MAIL ON 01-30-26. ‘OFFICER: BADGE #: 20, NAME: DANIEL A AGUERO Charge Description Fine Collected 344.62(1) OPERATE MOTOR VEHICLE W/O $200.50 $0.00 INSURANCE 03/17/26 VANDE BERG,MARIAH,LYN DOB: 08/31/81 No: T-BIS37634-0 AGUERO,DANIEL,A 11:00 AM 212 SHARP AVE Age: 44 Issued: 01/08/26 REESEVILLE WI, 53579 Inc#: 26-000072 Charge Description Fine Collected 347.06(3) UNCLEAN/DEFECTIVE LIGHTS OR $162.70 $0.00 REFLECTORS 03/17/26 ACOSTA,ADRIAN DOB: 06/27/99 No: T-BH527008-6 'WARNER,DAVID,N 11:00 AM 327 CYPRESS CIR Age: 26 Issued: 12/21/25 JEFFERSON CO CIRCUIT CT MARSHALL WI, 53559 Inc#: 26-000059 Charge Description Fine Collected 347.06(3) 'UNCLEAN/DEFECTIVE LIGHTS OR $162.70 $0.00 REFLECTORS 03/17/26 ARANDA,NOE LEVLL DOB: 05/05/66 No: T-BH527249-2 BURNS,RANDY 11:00 AM 401 N THOMPSON DR # 7 Age: 59 Issued: 02/07/26 JEFFERSON CO CIRCUIT CT MADISON WI, 53714 Inc#: 26-000062 Charge Description Fine Collected 346.57(5) EXCEEDING SPEED ZONES, ETC. $200.50 $0.00 (16-19 MPH) 03/17/26 DOMINGUEZ,LAURA,AVIGAIL DOB: 12/22/94 No: T-BH527009-0 WARNER,DAVID,N 11:00 AM 424 FARNHAM ST #7 Age 30 Issued: 11/26/25 JEFFERSON CO CIRCUIT CT MARSHALL WI, 53559 Inc# 25-000505 Charge Description Fine Collected 344.62(1) OPERATE MOTOR VEHICLE W/O $200.50 $0.00 INSURANCE Waterloo Police Department -- (920) 478-2343 04/13/2026 02:35 PM Court Calendar Report Page: 3 Report Criteria: Start Date End Date Officer Court Type 03/17/2026 03/17/2026 ALL ALL Court Date Name Ticket Officer/Court Type 03/17/26 GIBBONS,KEVIN,E DOB: 01/17/87 No: T-BH527264-3 AGUERO,DANIEL,A 11:00 AM 2126 HIGH RIDGE TRL # 204 Age 39 Issued: 02/21/26 JEFFERSON CO CIRCUIT CT FITCHBURG WI, 53713 Inc# 26-000085 Charge Description Fine Collected 346.57(5) EXCEEDING SPEED ZONES, ETC. $225.70 $0.00 (20-24 MPH) 03/17/26 GIBBONS,KEVIN,E DOB: 01/17/87 No: T-BH527265-4 AGUERO,DANIEL,A 11:00 AM 2126 HIGH RIDGE TRL # 204 Age: 39 Issued: 02/21/26 JEFFERSON CO CIRCUIT CT FITCHBURG WI, 53713 Inc# 26-000085 Charge Description Fine Collected 341.04(1) NON-REGISTRATION OF AUTO, ETC $175.30 $0.00 03/17/26 ‘GROVE,CHRISTY, HENRYELLEN DOB: 06/03/94 No: T-BH527259-5 AGUERO,DANIEL,A 11:00 AM 622 KNOWLTON ST #4 Age: 31 Issued: 02/15/26 JEFFERSON CO CIRCUIT CT WATERLOO WI, 53594 Inc#: 26-000082 Charge Description Fine Collected 343.44(1)(A) ‘OPERATING WHILE SUSPENDED $200.50 $0.00 03/17/26 GROVE,CHRISTY,HENRYELLEN DOB: 06/03/94 No: T-BHS527260-6 AGUERO,DANIEL,A 11:00 AM 622 KNOWLTON ST #4 Age: 31 Issued: 02/15/26 JEFFERSON CO CIRCUIT CT ‘WATERLOO WI, 53594 Inc#: 26-000082 Charge Description Fine Collected 344.62(1) OPERATE MOTOR VEHICLE W/O $200.50 $0.00 INSURANCE 03/1726 HAAS,AIMEE KATHERINE DOB: 12/09/75 No: T-BH527010-1 WARNER,DAVIDN 11:00 AM 315 FIR LN Age: S0 Issued: 12/21/25 JEFFERSON CO CIRCUIT CT MARSHALL WI, 53559 Inc#: 26-000060 Charge Description Fine Collected 341.04(2) IMPROPER REGISTRATION OF $263.50 $0.00 OTHER VEHICLE 03/17/26 HELD NAVY,LEE DOB: 10/28/05 No: T-BH527250-3 BURNS,RANDY 11:00 AM N7772 VICKSBURG WAY # C Ager 20 Issued: 02/07/26 JEFFERSON CO CIRCUIT CT OCONOMOWOC W1, 53066 Inc#: 26-000063 Charge Description Fine Collected 346.33(1)(B) 'UNLAWFUL U/Y TURN-MIDBLOCK. $175.30 $0.00 03/17/26 HOCHMUTH,DANIEL,JOHN DOB: 12/08/95 No: T-BHS27251-4 AGUERO,DANIEL,A 11:00 AM 209 WOODLAND DR # 10 Age: 30 Issued: 02/08/26 JEFFERSON CO CIRCUIT CT BEAVER DAM WI, 53916 Inc# 26-000064 Charge Description Fine Collected 346.33(1)(B) UNLAWFUL U/Y TURN-MIDBLOCK $175.30 $0.00 ‘Waterloo Police Department -- (920) 478-2343 04/13/2026 02:35 PM Court Calendar Report Page: 4 Report Criteria: Start Date End Date Officer Court Type 03/17/2026 03/17/2026 ALL ALL Court Date Name Ticket Officer/Court Type 03/17/26 HOCHMUTH,DANIEL,JOHN DOB: 12/08/95 No: T-BH527252-5 AGUERO,DANIEL,A 11:00 AM 209 WOODLAND DR # 10 Age: 30 Issued: 02/08/26 JEFFERSON CO CIRCUIT CT BEAVER DAM WI, 53916 Inc#: 26-000064 Charge Description Fine Collected 346.63(1)(A) OPERATING WHILE UNDER THE $1062.50 $0.00 INFLUENCE 03/17/26 HOCHMUTH,DANIEL,JOHN DOB: 12/08/95 No: T-BL227222-2 AGUERO,DANIEL,A 11:00 AM 209 WOODLAND DR # 10 Ager 30 Issued: 02/08/26 JEFFERSON CO CIRCUIT CT BEAVER DAM W1, 53916 Inc# 26-000064 Charge Description Fine Collected 346.935(2) POSSESS OPEN INTOXICANTS IN $263.50 $0.00 MV-DRIVER 03/17/26 HOCHMUTH,DANIEL,JOHN DOB: 12/08/95 No: T-BL227223-3 AGUERO,DANIEL,A 11:00 AM 209 WOODLAND DR # 10 Age: 30 Tssued: 02/08/26 JEFFERSON CO CIRCUIT CT BEAVER DAM W1, 53916 Inc#: 26-000064 Charge Description Fine Collected 346.63(1)(B) OPERATING W/PAC (1ST) $1062.50 $0.00 03/17/26 HOWE,HOLDEN,WILLIAM DOB: 01/26/97 No: T-BH527256-2 AGUERO,DANIEL A 11:00 AM 266 CANALRD Age: 29 Issued: 02/14/26 JEFFERSON CO CIRCUIT CT MARSHALL WI, 53559 Inc#: 26-000075 Charge Description Fine Collected 341.04(1) 'NON-REGISTRATION OF AUTO, ETC $175.30 $0.00 03/17/26 HOWE,HOLDEN,WILLIAM DOB: 01/26/97 No: T-BH527257-3 AGUERO,DANIEL,A 11:00 AM 266 CANAL RD Age: 29 Tssued: 02/14/26 JEFFERSON CO CIRCUIT CT MARSHALL WI, 53559 Inc#: 26-000075 Charge Description Fine Collected 344.62(1) OPERATE MOTOR VEHICLE W/O $200.50 $0.00 INSURANCE 03/17726 JILES,LASHAWN,P DOB: 01730176 No: T-BH527254-0 BURNS,RANDY 11:00 AM 422 EDISON ST Age: 50 Issued: 02/12/26 JEFFERSON CO CIRCUIT CT MILWAUKEE WI, 53225 Inc#: 26-000071 Charge Description Fine Collected 343.44(1)(A) OPERATING WHILE SUSPENDED $200.50 $0.00 03/17/26 JILES,LASHAWN,P DOB: 01/30/76 No: T-BHS27255-1 BURNS,RANDY 11:00 AM 422 EDISON ST Age: S0 Issued: 02/12/26 JEFFERSON CO CIRCUIT CT MILWAUKEE WI, 53225 Inc#: 26-000071 Charge Description Fine Collected 341.03(1) OPERATE AFTER REV/SUSP OF $175.30 $0.00 REGISTRATION ‘Waterloo Police Department -- (920) 478-2343 04/13/2026 02:35 PM Court Calendar Report Page: 5 Report Criteria: Start Date End Date Officer Court Type 03/17/2026 03/17/2026 ALL ALL Court Date Name Ticket Officer/Court Type 03/17/26 JOHNS, JOSEPH,FRANK, IV DOB: 07/16/87 No: T-BHS27244-4 WARNER,DAVID,N 11:00 AM W9182 BLUEWATERS PASS Age: 38 Issued: 01/30/26 JEFFERSON CO CIRCUIT CT CAMBRIDGE WI, 53523 Inc# 26-000050 Charge Description Fine Collected 346.46(1) FAIL/STOP AT STOP SIGN $175.30 $0.00 03/17/26 KEY,ALTON.M DOB: 09/30/49 No: C-1F80SPZ7XS BOLLIG,RANDY,P 11:00 AM 508 HARRISON ST Age: 76 Issued: 02/23/26 JEFFERSON CO CIRCUIT CT WATERLOO WI, 53594 Inc#: 26-000091 Charge Description Fine Collected 126-1 ANIMALS/FOWL RUNNING AT $175.30 $0.00 LARGE 03/17/26 KOPELKE,CONNOR,GLENN DOB: 01/26/97 No: T-BIS37637-3 AGUERO,DANIEL,A 11:00 AM 111 W MAIN ST #2 Age: 28 Issued: 01/08/26 JEFFERSON CO CIRCUIT CT MARSHALL WI, 53559 Inc# 26-000073 Charge Description Fine Collected TR305.09(6) CRACKED/BROKEN LENSES/ $175.30 $0.00 REFLECTORS 03/17/26 MACIAS,AMALIAE DOB: 09/05/78 No: T-BH527242-2 BURNS,RANDY 11:00 AM 225 S MAIN ST Age 47 Issued: 01/29/26 JEFFERSON CO CIRCUIT CT JEFFERSON WI, 53549 Inc#: 26-000049 Charge Description Fine Collected 343.44(1)(A) OPERATING WHILE SUSPENDED $200.50 $0.00 03/17/26 MACIAS,AMALIAE DOB: 09/05/78 No: T-BH527243-3 BURNS,RANDY 11:00 AM 225 S MAIN ST Age: 47 Issued: 01/29/26 JEFFERSON CO CIRCUIT CT JEFFERSON WI, 53549 Inc# 26-000049 Charge Description Fine Collected 346.33(1)(B) 'UNLAWFUL U/Y TURN-MIDBLOCK $175.30 $0.00 03/17/26 MORAN OLIVAS,JEYLIN VANESSA DOB: 07/11/9 No: T-BHS27253-6 STORMOEN, K YLE,MATTHEW 11:00 AM 580 KNOWLTON ST Age 29 Issued: 02/12/26 JEFFERSON CO CIRCUIT CT WATERLOO WI, 53594 Inc# 26-000068 Charge Description Fine Collected 343.05(3)(A) OPERATE W/O VALID LICENSE $200.50 $0.00 03/17/26 NEUY GRAY,HAYLEE,ROSE DOB: 01/18/05 No: T-BH527258-4 AGUERO,DANIEL,A 11:00 AM 457 W 14TH AVE Age: 21 Issued: 02/14/26 JEFFERSON CO CIRCUIT CT OSHKOSH WI, 54902 Inc#: 26-000076 Charge Description Fine Collected 346.57(5) EXCEEDING SPEED ZONES, ETC. $200.50 $0.00 (16-19 MPH) Waterloo Police Department -- (920) 478-2343 04/13/2026 02:35 PM Court Calendar Report Page: 6 Report Criteria: Start Date End Date Officer Court Type 03/17/2026 03/17/2026 ALL ALL Court Date Name Ticket Officer/Court Type 03/17126 RAMOS,JESSE, JR DOB: 11/04/01 No: T-BH527269-1 AGUERO,DANIEL,A 11:00 AM 7191 ELDER LN #2 Age 24 Issued: 02/23/26 JEFFERSON CO CIRCUIT CT SUN PRAIRIE WI, 53590 Inc# 26-000090 Charge Description Fine Collected 341.04(1) NON-REGISTRATION OF AUTO, ETC $175.30 $0.00 03/17/26 SOLBERG,MCKENZIE,LEA DOB: 02/03/03 No: T-BMS94340-5 STORMOEN,KYLE,MATTHEW 11:00 AM 554 KNOWLTON ST 6 Age: 22 Issued: 01/20/26 JEFFERSON CO CIRCUIT CT WATERLOO WI, 53594 Inc#: 26-000040 Charge Description Fine Collected 343.44(1)(A) OPERATING WHILE SUSPENDED $200.50 $0.00 03/17/26 ‘WOMACK,PHILIP,V DOB: 02/11/75 No: T-BH527261-0 BURNS,RANDY 11:00 AM 906 S LINCOLN AVE Age: 51 Issued: 02/17/26 TEFFERSON CO CIRCUIT CT BEAVER DAM WI, 53916 Inc# 26-000081 Comments: ***LETTER SENT 3-13-2026*** Charge Description Fine Collected 346.46(1) FAIL/STOP AT STOP SIGN $175.30 $0.00 03/17/26 WOMACK PHILIP,V DOB: 02111775 No: T-BHS27263-2 BURNS,RANDY 11:00 AM 906 S LINCOLN AVE Age: 51 Issued: 02/17/26 JEFFERSON CO CIRCUIT CT BEAVER DAM WI, 53916 Inc#: 26-000081 Charge Description Fine Collected 343.44(1)(B) OPERATING WHILE REVOKED $389.50 $0.00 (FORFEITURE 4TH+) Ticket Count: 36 Total Fines: $8828.60 Total Payments: $0.00 Total Due: $8828.60 vesey$ 26.L°0G1 8l 6V€66 LUV SL6Th 920c/9z/e 0z 68166 00°0v$ 1801 920z/8LIE 143 69066 £L1es 374 920z/9L/e cL 19686 SreLs 69°€ 9eoz/sLe 8L 80686 coee TLLY 920e/SLE 0T 12886 10°0e$ 8c'8 920eIvLIe 4 80.86 00'82$ £€c8 920z/EL/E (4 88586 00'62$ €98 9eoz/elie 8l 09786 8L°9Z$ LE8 9coz/Lie 0c 19e86 Loves SL 920z/0}/E 8L £9286 95°62$ 686°L 9e0e/6/E 8l 29186 66'€2$ 'L 9zoz/8/e 8L 19086 L0'v2$ ¥05°L 9e0z/LIe 0z 966 00v2$ SL 9zoz/9Ie (114 G186 11°828 6€6 920e/s/e 8L 85416 15128 eLLL 9202/E/e 32 G996 00°52$ gee8 9coere/e [ $95.6 00€lLs Elehd 920T/LIE ) 1509 "uley SWwa)| 9dUBUIUIE abeajin $1509 |94 1end ajeq €81 _ uojjeb sad s3I YIUOTdXT piod| uonduosad a|dIyaA VZ'S6¥$ 1509 fon 120z] 1eoA LEIE-1IE | pouadiog 6££20094V0VSWAL| NIA Joday aoueulule|y 3934 Judswiiedaq 991j0d OO[I9)EA Karl Junginger Memorial Library / Mayor/Council/Board Report - MARCH 2026 'MARCH Monthly Statistics | JAN FEB] _ MARCH APRIL MAY JUNE JULY AUG SEPT ocT NOV DEC Library Card Holders 2025 2301 2315 2317, 2330, 2353 2400 2422 2432 2439 2446 2460 2457 2465 2365 2377, % of Change NEW Library Card Holders NEW STATS 2025 13 18| 20 25 30 47 24 14 12 21 16 6| 2026 12 8 17 % of Change Checkouts (Circulation) 2025 4662 4182 4539 4122 4134 6254 6777 4945 4562 4401 3783 4206 4616, 4470 4379 % of Change eBook/Audio Checkouts 2025 868 856, 840 909 935 950 1029 1041 1036 1111 1045 976 (Circulation) 1081 963 1069 % of Change Library Visits 2025 1956 1970 2384 2280 2387 3002 2997 2142 2048 2037 1854 1790 1785 2021 2231 % of Change Meeting Room Use 2025 9 17 20| 18 9 13 13 18 8 11 9 10 BY PUBLIC 20 17 18 Community & Conference % of Change 0.00% Public Computer Use 2025 77| 73 105 100 108 97 80 72 75 80| 80| 86| 85 98 90 % of Change WiFi Use 2025 230 232 200 217 202 209 202 179 190 179 171 119 134 150 152 % of Change Outreach to local schools, 2025 114 186 131 139 109 83 50! 80 78 63 62 213 daycares, & residents 62 209 63 Checkouts % of Change Adult Number of Programs 2025 15 14 18 15 15 16 18 17 14 16 19 15 18 19 16 % of Change Adult Attendance 2025 197, 103 188| 119 197 261 153 117 79 196 116 100, 188 136 109 % of Change Teen (12-18) 2025 3 1 0 7 10 1 2 3 3 2 Number of programs 3 % of Change 0.00%| Attendance 2025 21 10 24 24 0 185 99 36| 36| 41 32 24 52 50 47 % of Change Children’s 2025 12 14 12 17 13 19 28 12 14 16 13 13 Number of programs 11 11 8 % of Change Attendance 2025 286 254, 267 281 244, 1044 1064 302 263 395 278 247 323 270 242 % of Change GENERAL ALL AGE PROGRAMS Number of Programs NEW 2025 1 1 1 4 4 4 4 1 2 3 2 2 1 1 3 % of Change 0.00% 0.00%| " 200.00%| Attendance NEW 2025 69 67 84 342 699 671 185 97 133 254 121 227 % of Change VI Karl Junginger Memorial Library Board of Trustees Meeting Minutes March 25, 2026 @ 5:30 pm Call to Order & Introductions The meeting was called to order at 5:35 p.m. Present: Art Biermeier, Diane Graff, Tracy Grant, Susan McDermott, Cindy Krueger(phone), Sara Cummings, and Kelli Mountford. Approval of agenda The agenda was approved as written Approval of open minutes from February 25, 2026. Cummings moved to approve the February 2026 minutes with the change of adding Fugate as attended. Graff seconded. The motion passed unanimously. Correspondence, Appearance, Public Comments Director’s Report Unfinished Business . Financial monthly report for February 2026 - Action Cummings moved to approve the February 2026 monthly invoices as presented. Krueger seconded. The motion passed unanimously. Budget 2026 — Informational . Adjacent County Dollars — Informational Mountford presented the draft 2027 County reimbursement numbers using the annual report and circulation numbers from 2025. . Computer Installation — Action Cummings moved to approve allowing Taylor Computers to install the nine computers, with the amount that may fluctuate, as Mountford was quoted. Grant seconded. The motion passed unanimously. . ADA Website Update — Informational Mountford updated the library board about the progress on making the library website ADA accessible by April 2027. The library has received the results of its website’s Dyno Mapping, which was completed for the KIML by the Bridges Library System. Job Descriptions, “Librarian” and “Assistant Director” — Action Grant moved to approve both job descriptions as written. Cummings seconded. The motion passed unanimously. . Review Policy 417 Zoo Pass — Action Cummings moved to approve Policy 417 Zoo Pass as is. Grant seconded. The motion passed unanimously. Vil Vil New Business . Chad (DPW) Parking Lot Bids — Informational The bid that Chap from DPW received for the prep seal, pavement sealer, and restripe parking lot according to the current layout specifications was provided to the Library Board. Since this was approved as a Capital project and the money was already approved, this does not have to come back to the board next month. The Board recommended going ahead with this bid. . Review Photo Permission Policy 445 — Informational Mountford discussed Policy 445 Photo Permission, and that it will be brought up next month for discussion and final approval. Read and Discuss the Library Board Trustee Handbook Introduction and Chapter 1, “The Trustee Job Description” — Informational The board decided to table this item for future discussion. Future agenda items — Budget 2026, Policy 445, Job Description, Computers, ADA website Date, place, and time of the next meeting: Wednesday, April 22, at 5:30 p.m. in the Hyer Conference Room Adjournment Grant moved to adjourn at 6:14 p.m. Biermeier seconded. The motion passed unanimously. Respectfully submitted, Cindy Krueger List of Bills AC Engineering 1,538.98 Avestar 12.00 Axley Brynelson 348.00 Baker Tilly 8,190.00 BMO 1,597.35 BMO Mastercard 7,243.58 Bond Trust Services 400.00 Border States 366.80 Brothers Main 770.00 Vern Butzine 150.00 C&M Hydraulic Tool Supply 310.55 City of Waterloo Treasurer 148,658.64 Core & Main 1,778.00 Environmental Express 1,960.62 Final Bill Credits/Budgets 2,741.10 Frontier 373.49 Forester Electrical Engineering 8,554.06 GFC Leasing 185.00 GLS Utility 2,364.90 Hawkins 7,384.63 Howie's Hardware 419.14 Infosend 1,350.78 K&B Auto 794.33 Pamela Kuhl 150.00 Kwik Trip 573.99 Leader Independent 4122 Lou's Gloves 91.00 Mid-State Equipment 254.45 Checking Account Balance 2/28/26 Deposits Disbursements Interest Balance 3/31/26 WWTP DNR Replacement Fund Balance 2/28/26 Deposit/ (Withdrawal) Interest Balance 3/31/26 Debt Service Account Balance 2/28/26 Deposit Bond Payment/Svc Fees Interest Balance 3/31/26 Money Market Account Balance 2/28/26 Deposits Transfer Disbursements Interest Balance 3/31/26 Transportation Fund Balance 2/28/26 Transfer Balance 3/31/26 WWTP USDA Bond Reserve: Balance 2/28/26 Transferred infout Interest Service Charge Balance 3/31/26 Avestar CD #3596 (Bond Reserve): Balance 2/28/26 Interest Balance 3/31/26 LGIP (Bond Reserve): Balance 2/28/26 Interest Balance 3/31/26 Construction Acct: Balance 2/28/26 Transferred in Balance 3/31/26 NAPA Northern Lake Service Inc OpenPoint Paragon Development Systems Payment Service Network Payroll PsC Portland Sanitary District Portzen Construction Inc Resco Devin Schumann Seera Solenis LLC Stuart Irby Town & Country Engineering Michael Tschanz Uline US Cellular UPS USA United Liquid Waste Recycling Waterloo Building Center Waterloo Utilities WE Energies Wisconsin Dept. of Revenue Richard Weihert WPPI Energy Total Disbursements 72.27 22,049.41 143,525.79 1,607.05 150.00 1,317.28 4,878.09 16,940.00 44,075.01 150.00 $856,079.35 416,906.00 807,009.58 (855,531.35) 244.09 $368,628.32 $590,786.23 (88.50) 962.29 $591,660.02 $911,699.73 117,930.00 (128.80) 1,540.78 — 51.031,041.71 1,951,195.80 328,525.89 (117,930.00) (330.70) 3,545.89 3 $16,257.00 $16,257.00 $124,276.79 $124,276.79 350,817.80 2,811.35 5 $251,514.55 $712.27 $252,226.82 $1,500.00 3 0 Regular meeting of the Waterloo Water & Light Commission held April 7, 2026 Meeting called to order by President Devin Schumann at 7:00pm at the Waterloo Utilities office. Present were Commissioners Vern Butzine, Pam Kuhl, Michael Tschanz, Richard Weihert, Superintendent Barry Sorenson, Office Manager Joy Bisco, Mayor Jenifer Quimby, and Lisa Twarog, Town & Country Engineering. Citizen Laura Cotting. Minutes Motion by Butzine, seconded by Weihert, to approve the minutes of the March 3, 2026 meeting. Motion carried. Expenditures Motion by Weihert, seconded by Butzine, to approve the March disbursements as presented. Motion carried. Citizen Input Mayor Quimby commented on changing the utility audit to match the City audit and balancing of the to/from between the two entities. Portzen Pay Request No pay request was received. Tower Dismantle Bid Acceptance Motion by Schumann, seconded by Weihert, to accept the lowest bid from Iseler Demolition, Inc for $53.800, contingent upon Iseler dates available after the SCADA communications have been moved. Motion carried. Reservoir Maintenance Proposal Approval Sorenson updated the Commission on the underwater drone video and assessment by Lane Tank. DNR recommended maintenance will be performed, waiting on a quote from Lane Tank. Lank Tank will perform the DNR required inspection. Lift Station Request to Bid Motion by Schumann, seconded by Weihert, to approve the request to bid lift station improvements to be funded by USDA grant funds with a 10% utility cost share. Motion carried. Unit Price Bid Acceptance Motion by Weihert, seconded by Butzine, to accept the lowest unit cost bid from A-1 Power LLC. Motion carried. Transportation Replacement Fund The Commission was updated on the transportation replacement fund. Motion by Butzine, seconded by Tschanz, to adjourn the meeting at 7:45pm. Motion carried. Respectfully submitted, Pam Kuhl - Secretary Minutes for March 12th CATV Board Meeting at 5:00 pm. 2nd Floor Lounge, The Solarium, 575 West Madison St. 1. Call to Order and Roll Call. Cotting called the meeting to order at 5:06 pm. Cotting, Kovacs, McKay present. Director Sparks, Senior Videographer Landino, and Incoming Manager M. Nightoak present. 2. Approval of Previously Unapproved Meeting Minutes: February 12, 2026. Motion: Approve the meeting minutes from the February 12th meeting including the correction for the Alliance for Community Media Annual Conference. Kovacs/McKay. Unanimous. 3. Citizen Input. Sparks reported a request from Mayor Quimby to work with WLOO to get a conference call system working and patched into the existing audio system. Landino provided input on possible technological limitations and issues. Sparks will set up a meeting to discuss the previous set-up used at City Hall during the COVID pandemic. This will be a future agenda item. 4. Manager’s report: In Packet The February Treasurer's report was not received by the meeting so the Board was unable to review and discuss it. 5. New Business. Motion: Move 5A (Performance Review) and 5B (Budget) to after 5C through 5F. Cotting/Kovacs. Unanimous. C. WCM Conference in April (Action) No action taken. Request to attend conference withdrawn. D. February 26 issue of the Leader Independent (Informational) Cotting, Kovacs, McKay, and Sparks reported on Mayoral and WAHS requests for drone footage of the Water Tower before and during demolition. No date, maybe May. Costs, FAA training needed, and testing of WLOO drone discussed. E. Project Reverb Progress Report (informational) Landino’s update included delays due to elections and carpet cleaning at City Hall. The primary set-up is operational. All videographers have basic training on different aspects of the system. Some engineering, problem solving, and purchase and installation of some minor hardware remain to be done. Final report expected near the end of April. F. Administrative Transitions and Board Member Term expiration (informational) Cotting and Kovacs’ terms expire in April, per City Clerk Ritter. M. Nightoak becomes WLOO Manager April 6th. Nightoak said transitioning from videographer to Manager in the middle of a pay period might cause payroll issues at City Hall. Motion: Move to Closed Session for items 5A and 5B. Cotting/Kovacs. Unanimous. 6:16pm. [NOTE: The Cable Television Regulatory Board may meet in closed session per Wis. Stat. 19.85(1)(c) considering employment, promotion, compensation or performance evaluation data of any public employee over which the governmental body has jurisdiction or exercise responsibility. Upon concluding a closed session, the Board will reconvene in open session.] Motion: Reconvene in Open Session. Cotting/McKay. Unanimous.8:49 pm. 6. Future Agenda Items and Announcements. Setting 2026 Performance Goals for Station Manager Drone Training and Licensing ACM Community Media Conference Upcoming WLOO CATV Events: No Kings, Easter Egg Hunt, WHS Graduation, and More Mayor’s Request to work with WLOO to get a conference call capability to YouTube broadcast system working and patched into the existing audio system. moow» Next Meeting, Thursday April 9, 2026 at 5:00 pm. 8. Adjournment Motion: Cotting/Kovacs. Unanimous. Meeting Adjourned at 8:51 pm. Minutes respectfully submitted on 04-03-2026 by Laura Cotting, Acting Station Manager. WLOO CATV Monthly Manager’'s Report for the month of March 2026 The City Treasurer's Monthly Report for March was not available. According to the report for February, WLOO spent $108 on a brief Vimeo membership to retrieve many years' worth of videos; it is anticipated this will be reimbursed after cancellation. $39.98 was spent on batteries and back-ups for the portable radios used during municipal meetings. The City of Waterloo began the changeover to a new payroll system called MiPay. Acting Manager Cotting provided WLOO Staff email addresses at the City Treasurer's request to be used for MiPay login and reporting work hours. The training for staff will occur at a later date TBD. The regular March WLOO CATV Regulatory Board meeting was held with all appointed Board members present. The Station Director's annual review was completed. Senior Videographer Autumnrain (Landino) reported that Phase 2 of Project Reverb (updating and optimizing the equipment in WLOO's alcove at City Hall) is still in progress. Completed tasks include the ordering and installation of a new monitor arm and testing of the cables while filming the polling equipment testing. Remaining tasks include clean-up and some reverse engineering. She reported REVERB will be completed by the end of April. She will be providing updates on the project for the WLOO Board to review at its April meeting. Incoming Manager Nightoak has successfully set up and begun implementing a project management and workflow solution (Trello), a Customer Relationship Management (CRM) solution (Zoho) for tracking contacts and interactions with others, and a calendar solution (Outlook) for tracking regular weekly, monthly, and annual tasks and bills. A draft Station Manager's Guide to Operations was completed and will be continually updated and revised. Board Chair Cotting had several conversations with WAHS member Dale Van Holten regarding collaboration between WAHS and WLOO on projects of mutual interest. Cotting will attend WAHS's April 11 meeting. Multiple events were successfully filmed and used as additional training for staff. This includes the No Kings protest, filmed by Director Sparks and Senior Videographer Autumnrain (Landino); it was a success with no complications during the archival process. Videographers Weihert and Autumnrain (Landino) filmed the polling equipment test at City Hall. Director Sparks then edited it down to approximately 15 minutes and posted it on the WLOO YouTube channel along with general information about where and when to vote. At the end of March, Katy Prange of Charter/Spectrum emailed a request to WLOO, the Mayor, and City Clerk for a sign-off to decommission Waterloo PEG channels 991/992. No details were given as to how this would be accomplished. Board Chair Cotting sent a personal email to the Mayor and City Clerk recommending the request be respectfully declined. The Mayor followed up with an email to Ms. Prange and declined Charter/Spectrum’s request. This matter will be discussed at the WLOO CATV Regulatory Board's April meeting but no further action is needed at this point. 136 North Monroe Street, Waterloo, Wisconsin 53594-1198 Phone (920) 478-3025 Fax (920) 478-2021 RESOLUTION #2026-14 Reallocating 2026 Payroll budget funds to Purchase Records Management System with additional Computer Aided Dispatch The Common Council of the City of Waterloo, Wisconsin does hereby ordain as follows: WHEREAS, the Waterloo Police Department has determined a need to update its Records Management System and Computer Aided Dispatch System; and WHEREAS, the cost to do this would be $44,128.00; and WHEREAS, the Police Department is asking to reallocate funds from their 2026 Payroll Budget to Communications; and WHEREAS, the funds would come from unused payroll for one officer and one sergeant (1/1/2026-5/31/2026); THEREFORE, BE IT RESOLVED, the City Council of the City of Waterloo, Wisconsin, does hereby approve reallocating funds from the 2026 Payroll Budget to fund the Records Management and Computer Aided Dispatch Systems at the___, April, 2026 meeting. Passed and adopted: City of Waterloo Signed: Jenifer Quimby, Mayor Attest: Jeanne Ritter, Clerk/DeputyTreasurer Page 1of 1 Date: March 16, 2026 City of Waterloo Police Department Chief David Warner I 136 North Monroe Street Waterloo, Wisconsin To: Finance and Personnel Committee Attn: Alderperson Charles Kuhl Alderperson Richard Wiehert Alderperson Jody Haseleu Subject: Request for Budget Reallocation — $44,128.00 On behalf of the City of Waterloo Police Department, I respectfully submit this request for approval to reallocate funds in the amount of Forty-Four Thousand One Hundred Twenty- Eight Dollars ($44,128.00) from the originally approved 2026 payroll budget for Officer 1 and Sergeant of Police/Patrol. The calculation for the funds proposed for reallocation is outlined below: January 1%, 2026, to May 315 2026. o Officer 1: $34.60/hour x 8 hours = $276.80 per shift $276.80 x 5 shifts = $1,384.00 per week $1,384.00 x 2 week pay period = $2,768.00 $2,768.00 x 6 weeks = $16,608.00 o Sergeant: $36.40/hour x 8 hours = $291.20 per shift $291.20 x 5 shifts = §1,456.00 per week $1,456.00 x 2 week pay period = $2,912.00 $2,912.00 x 10 weeks = $27,520.00 Total Reallocation Requested: $16,608.00 + $27,520.00 = $44,128.00 Due to evolving technological needs and operational considerations, the department must update its Records Management System (RMS) and with additional Computer Aided Dispatch (CAD) capabilities. Implementing an upgraded system will allow the department to streamline operations and significantly improve access to critical information. An updated RMS/CAD system would allow officers and sworn staff to obtain near-immediate information from dispatch and surrounding law enforcement agencies within Jefferson County. This upgrade will improve: o Officer safety through real-time information sharing, Coordination with surrounding law enforcement agencies Reduction of paperwork and administrative workload Faster access to records and reporting data Improved accuracy in state and federal reporting requirements Efficiency for our Administrative Assistant in compiling required statistics and reports Attached to this request is a proposal from Computer Information Systems (CIS). CIS currently provides RMS/CAD services for the Jefferson County Sheriff’s Office, Johnson Creek Police Department, and Watertown Police Department. The City of Lale Mills Police Department is also scheduled to begin utilizing this system later this year. Under this proposal, the system would be hosted through Jefferson County, allowing our department to utilize the CIS, RMS/CAD platform. Benefits include improved information sharing, computerized dispatch integration, GPS capabilities for officer location during emergencies, and more efficient record management. To support this initiative, it has become necessary to reallocate funds from the Officer 1 and Sergeant of Police/Patrol 2026 payroll accounts to the Communieations budget category. This adjustment will allow the department to implement the RMS/CAD upgrade and improve operational efficiency while supporting officer safety and modern policing requirements. This proposed reallocation will not alter the overall scope, goals, or intended outcomes of the department’s operations. Rather, it will enhance our capacity to deliver services efficiently while maintaining compliance with all municipal budgetary and reporting requirements. Summary of Propesed Budget Modification Original Budget Category: Officer 1 / Sergeant of Police/Patrol Payroll Amount to be Reallocated: $44,128.00 Revised Budget Category: Communications Amount to be Added: $44,128.00 We respectfully request your review and approval of this budget reallocation. Upon approval, the revised allocation will be implemented in accordance with all applicable financial management and reporting requirements. Thank you for your consideration. Respectfully submitted, David N. Warner II Chief of Police City of Waterloo Police Department s Neuy () March 15, 2026 Chief David Warner Waterloo Police Department 136 N Monroe Street Waterloo, Wisconsin 53551 Subject: CIS Systems Proposal Dear Chief Warner: CIS is pleased to present this Proposal to add the Waterloo Police Department to the Jefferson County Sheriff's Department CIS System. The costs are as follows: 1. CIS Software Licenses RMS Client (7) $ 14,000.00 MCS CAD/Map/AVL/Mobile Field Reporting Client (4) § 8,000.00 $ 22,000.00 2. Professional Services Application Documentation $ 2,400.00 Installation and System Configuration $ 4,000.00 Records Conversion: Core Technology - Talon $ 7,500.00 On-Site Training $ 7,200.00 1% Year Maintenance and Support $__4,400.00 $ 25,500.00 3. Barcode Hardware (Schedule 1) $ 1,406.00 $ 48,906.00 Project Management $_4,891.00 Total $ 53,797.00 Less: Discount $ _12,000.00 Net Cost $ 41,797.00 Year Initial Cost pius Maintenance 1 $ 41,797.00 2 $ 5,280.00 3 $ 5,597.00 4 $ 6,289.00 5 $ 6,666.00 Please call me directly at 877-673-7800 with any questions. Sincerely, Computer Information Systems, Inc. Robert” )?754« Robert Reyes Director of Services COMPUTER INFORMATION SYSTEMS, INC. | 600 Central Ave | Highland Park, IL 60035 Toll-Free: 877.673.7800 | Fax: 847.673.7804 | Email: scles@cis.com | www.cis.com SCHEDULE 1 BARCODE HARDWARE Barcode Wands (1) $ 1,346.00 Zebra LI3678-SR o Wireless and USB Shipping $ 65.00 Barcode Hardware Total $ 1,406.00 s L) COMPUTER INFORMATION SYSTEMS, INC. RESOLUTION #2026-13 2025 Financial Carry-Over Approvals Whereas, the following chart defines the line-item categories proposed for 2025-2026 carry over designation by the Clerk/Treasurer’s office, with minor residual debit modifications expected to account for remaining 2025 invoices received in 2026. CITY OF WATERLOO Revenue Assignments WORKPAPER FOR THE YEAR ENDED 12/31/2025 BEGINNING YEAR TRANSFER CURRENT YEAR CURRENT YEAR YEAREND ACCOUNT# __DESCRPTION BALANCE (Loss) EXPENSES REVENUEALLOWANCE ASSIGNMENT FUND 100 10032610 POLICE DONATION DEFIBULATOR 666.88 - - - 10032631 POLICE DONATION SPEED LIMIT ALERT SIGN 24015 - - - 10032635 POLICE PATROL UNIFORM ALLOWANCE 643.48 (613081) 6,100.00 10032640 DPW UNIFORM ALLOWANCE - (298.01) (90199) 1.200.00 FUND 100 TOTAL 155051 (298.01) (7.03280) 7.300.00 151970 FUND220 22032635 FIRE DEPT UNIFORM ALLOWANCE 745 (1.76041) 2,000.00 22034100 FUND BALANCE CAPITAL PROJECT 48601234 - - - FUND 220 TOTAL 48608979 - (1.76041) 200000 486,32938 FUND225 22532625 PARKEQUIPMENT CARRYOVER (BLACKTOP) 10102.00 - - - 22535000 PARK-LIONS FOUNTAIN HEAD - 1,395.00 22539999 CAROUSEL 067898 FUND 225 TOTAL 40.780.98 - - 1395.00 42,175.98 FUND 400 40032602 SQUAD CAR FUND 4707860 - - - 40032606 EMERGENCY GOVT SIRENS FUND 8000.00 - - - FUND 400 TOTAL 55078.60 - - - 55,078.60 FUND 600 60034310 PROFESSIONAL SERVICES CARRYOVER 2500000 - - - 600-34301 DOWNTOWN REVITALIZATION PLAN - - - 5,000.00 FUND 600 TOTAL 25000.00 - - 5,000.00 30,000.00 FUNDB12 81234105 LIBRARY CARRYOVER COUNTY 106,490.30 - - - 81234106 LIBRARY CARRYOVER CLARK 3722246 - - 7916 81234107 LIBRARY CARRYOVER MEMORIAL-DONATION FUND 64769.57 - - 143,780.00 FUND 812 TOTAL 208483.33 0 0 143,859.16 35234149 Therefore, Be It Resolved, by the Common Council of the City of Waterloo, Wisconsin, that it hereby authorizes the 2025-2026 carry-over amounts as stated with final amounts to include any residential debits for accounts listed which may have remaining 2025 invoices, received in 2026, after resolution adoption PASSED AND ADOPTED this 2026 City of Waterloo Signed Mayor Jenifer Quimby Attest Jeanne Riter, City Clerk