City of Cedar Falls, Iowa
POPULAR ANNUAL
FINANCIAL
R EPORT
July 1, 2024–June 30, 2025
TABLE OF CONTENTS MESSAGE FROM THE FINANCIAL SERVICES DIVISION
3
MAYOR & COUNCIL
4
WARDS & PRECINCTS
4
BY THE NUMBERS
5
REVENUES
6
EXPENDITURES
7
CIP
8
NET POSITION
9
CITY DEBT AND STATISTICS
10
LOOKING AHEAD
11
CONNECT WITH CF
12
CEDAR FALLS
2
To the Residents of the City of Cedar Falls: We are pleased to present the City of Cedar Falls’s Popular Annual Financial Report (PAFR) for the year ending June 30, 2025. This report offers a clear and accessible overview of the City’s financial performance and position, helping residents better understand how public resources are managed. This PAFR is a summary document containing only a sampling of selected statistics and information and is not intended to provide a complete financial picture of the City in accordance with GAAP. Residents who prefer to review a GAAP-compliant report may view the Annual Comprehensive Financial Report. Please visit the City’s website at bit.ly/2025ACFR. We’re proud to share that Cedar Falls has earned the Government Finance Officers Association’s Certificate of Achievement for Excellence in Financial Reporting for 35 consecutive years. In addition, our first PAFR received the Certificate of Outstanding Achievement, recognizing our continued commitment to transparency and excellence in financial communication. The PAFR provides a concise overview of the more detailed 2025 Annual Comprehensive Financial Report, which follows generally accepted accounting principles and has been audited by Eide Bailly, LLC.
MESSAGE FROM THE FINANCIAL SERVICES DIVISION Lisa Roeding, CMFO Controller/City Treasurer
The City ended Fiscal Year 2024–25 with a General Fund surplus, which has been designated for future capital improvements. Cedar Falls also reaffirmed its Aaa bond rating, reflecting continued fiscal strength and stability. This strong position enables reinvestment in our Capital Improvement Program and key community projects to reduce the burden on local taxpayers. Cedar Falls has a long history of establishing strong financial policies, which has led to years of financial stability. The City takes pride in its timely financial reporting and transparency. As you explore this year’s PAFR, we hope it provides meaningful insight into the City’s priorities, resource allocation, and dedication to sound financial stewardship.
A Popular Annual Financial Report is designed to provide citizens with a usable and easy-to-understand overview of the City of Cedar Falls’s
CERTIFICATE OF ACHIEVEMENT FOR EXCELLENCE IN FINANCIAL REPORTING The Government Finance Officers Association presented the City of Cedar Falls Iowa this award for its Annual Comprehensive Financial Report for the Fiscal Year Ended June 30, 2024. We have achieved this award for 35 consecutive years! The GFOA has also given an Award for Outstanding Achievement in Popular Annual Financial Reporting to the City of Cedar Falls for its Popular Annual Financial Report for the fiscal year ended June 30, 2024. This was the first year the City submitted the PAFR for consideration.
financial state for Fiscal Year 2024-2025. We created this report to advance our goal of improving methods of communication with citizens to inform them of our financial condition. Our citizens are our business!
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4 V14
Wards & Precincts
Hunter Dr
218 ¡ ¢ 27 ! "
Sands Ave
Hyper Dr
Lake St
Timothy St
Lake St
Leversee Rd
Cypress
Vine St
Cameo St
Ave
Pine St
Woodlawn Ave
Longview Ct
Precinct 1
Western Ave
Cedar St
Sumac Ave
Morrison Ln
Green Ave
Central Ave
Fern Ave
Jaclyn St
Thomas St
Eddie St
Kennedy Ave
Douglas St
Western Ave
Longview St
Clair St
d kR oo
br
Warp Dr
Lone Tree Rd
Lantz Ave Bertchwood St
We st
Lindale Rd
Maple St
Hiawatha Rd
T75
Westview St Rosewood Dr Cadam Ct
Pocahontas Rd
Tomahawk Ln
Minnehaha Ln
Lone Tree Rd
4
Big Woods Rd
Cypress Ave
k
Poplar Ln
Skyline Dr
Dunkerton Rd
Mustang Rd
Rocklyn St
Rail Way Big Woods Rd
Cambridge Ave
Catalpa Ln
Box Elder Ln Jordan St
Gas Light Dr
Redwood Ln Hackberry Ln
Spruce Ln
Howe St Roosevelt St Roosevelt St
A St
B St
d g e wo o d D r
eD r
Ri
r
Amity Dr
Elm Dr
Rainbow Ct
Parrish St
Highgate Ln
Autumn Ln
Kelly Helen Rd Ct
Bronson Ct
Four Seasons Dr
t h Rd Tilbury Rd
Progress Ave
Laurie Ave
Willow Ln
Neola St
dy Ln Sh a
Veralta Dr
Chapman Ct
Clearview Dr
Starlite Blvd
Richland D r
Mark Dr Jill Dr
Sager Ave
Fleur Dr
Cedar Hill Rd
Onawa Dr Del Matro Rd Monterey Dr
Edge wood Dr
Asbury Ln
Aspen Dr
Mathew Dr Aspen Ct
Luke St
Chadwick Rd
Tunis Cir
Scenic Dr
Jodi Dr
Heartland Hills Dr
Callum C
Midway Dr
ill GreenhCir
Lovejoy
Millenium Dr
Veralta
Garnet Rd Emerald Rd
Dr
Wedgewood Dr
Dr
Dr
Rownd St Crestview Dr
Hillside
Clearview
Daina Dr
Alameda St
n ny Ln
Su
Hillcrest Dr McClain Dr
Longview Dr
Res
rds Edwa
California St
Hickory Ln
Dr
Rownd St
in D r C la
Mc
Ed ge w
Prairie Dock Rd
Galloway Ave
resq Dr ue od Dr
Pictu
ew o
Ch e r ry Ln
E
Ave
Oakla
nd
Ave
W R id g
P ar Ashland Ave
Victory Dr re Dr
Pridemo
Laurinda Dr
hi Mary
Knoll Ridge Dr
Jennifer Ln
Orchard Hill Dr
oo d
Holiday Rd
Blackhawk Vlg
Woodridge Dr Eastpark Rd
Briarwood Dr
u e g ra s s C i
Bl
Sweet Basil Ln
B
Sa g e R d
Thyme R d
Deena Dr
Royal
Grove St
Dallas Dr
Tucson Dr Boulder Dr
Dallas Dr
Rd
S Lawn
Stewart Ln
Con
sD r Sturgi
Estate Bluebell Rd Coneflowe Dr r Pkwy
S Main St
k Dr
Grandview Ct
Belle Ave
Highview Ct
White Way
Virgil St
Russell Dr
Birch St Elmwood Gibson St Ave
East St
Adams St
Melrose Ct
Fairview Dr
Washington St Creek (S)
va
S Main St
ir L n
Run Dry
s Dr Jame
a Ct Ques ad
C Coron Orellant ad Ct o Ave a
Legacy Ln
Grove St
Irving St
Scoggin St Schreiber St
Bluff St
State St
Dry Run Creek
Main St
Clay St
Iowa St
Tremont St
Franklin St
Olive St
Walnut St
n Dr
o re Celtic Ct
Carey Dr
Glacier Dr
Fjord Dr
Marius Dr
Valley Park Dr
Washington St
State St
Clay St
Bluff St
Tremont St
Walnut St
Olive St
Cottage Ln
College St
Merner Ave
St
Missouri
Dr
h
Addison Dr
Ethan Ct
Gloria St
Kara Dr
Norse Dr
Meadowlark Ln
Logan St
Greeley St
College St College St
Pearl St
Catherine St Catherine St
Columbia Dr
Campus St Campus St
Minnesota St
Ohio St
Panther Ln Panther Ln
Chriskin Rd
Franklin St
Barbara Dr Dr
Delta Dr
Brenton Dr Nebraska St
Indiana St
Spring Valley Ln
Tiffany Ln
Sterling Ln
Sable Ln Samantha Cir
Main St
Catherine St
Pearl St
St
Division St
Genevieve
Ellen St
Francis St
Division St
St Ellen
Barrington Dr
Warwick Dr
Carriage Ln
Panther Pkwy
Kansas St
Illinois St
Ingersoll Rd
Valdez Dr
Huntington Rd Gre
en
Viking Pl
Cr
ee
k
Winterberry Dr
Deere Rd Ridgeway Ave
Athens Dr
20 ¡ ¢
20 ¡ ¢ Fast Ln
Way
Willow Oak Dr
Live Oak Dr
Twin Oaks Ln
iden
ce
n Tr
Riders Rd
Post Oak Dr
Dean Lee Dr
l
Cyclone Dr
27 ! "
Tita
58 ! "
Greyhound Dr
Columbia St
Dewitt Rd
Concord St Scranton St Richmond St
Gram Ct
Montclair St
At Large: Kelly Dunn
Dr
27 ! " Trenton Ave
Lexington Blvd
Princeton Ave
S Union Rd
Walmart Dr
Nordic Dr
Commerce Dr
Camden St
Ace Pl
Cyber Ln
l o g y P k wy
Saratoga St
Ward 3: Daryl Kruse
Saints Dr
Andrea Dr
Enterprise Dr
Chancellor Dr
c h nology Pl Te
ski
Kato Shawnee Rd
Performance Dr
Nordic Dr
no
h ec
D19
Precinct 3
Viking Rd
Dewitt Rd
Cross Creek Dr
PE Center Dr Red Oak Ln Applewood Ln
Greenhill Dr
t
Prairie St
Hedgewood Cir
Jay Ln
Dr
Caraway Ln
Baker Dr
Oak
Dr Highland
Hill Ct
Angie Dr
Magnolia Dr Fireside Dr
Hearthside Dr
Birdsall Dr
Barnett Dr
sall
rd
Lexington Dr
Clark
Jessica Ln
P ark Dr
Brentwood Dr
Cedar Crest Dr
Parkgate Rd
Damascus Dr
Kaspend Pl
od wo
Union Rd
Forrest Rd Memorial Ave Park Dr
rk Pa
Lakeview Dr
Lilli
Lakeshore Dr
Juan Ave ita
LeClair St
Stanley St
Dr cent Cres
a
Shelley Ln
Corduroy Dr
S a nd
Golden Ln
Autumn Ln
Columbine Dr
Cherrywood Dr P Cher l ry
Rocky n Gra
Bl
Ho
Valley High Dr
al Dr
ors Arb Dr
Acorn Ln
Crossway Dr Jade Rd Sapphire Rd
in rd Ca t C
Arbors Dr
rest Dr
Five Seasons Blvd
ridot Rd
Fernwood Dr
odc Wo
Opal Ln Zircon Ln
Pe
Production Dr
rk Cir
Midway Dr
Wembly Rd n alla MaC Ln
Cedar Heights Dr
Development Dr
Scenic Dr
Garden Ave
Possum Rd
er
Sunray Dr
Cedar Heights Dr
S Union Rd
Wint nnial Dr
Prairie View Rd
Blackhawk Ln
Ridgeway Ave
4 Latta Ward 2: Chris
Ward 5: Dustin Ganfield
wk
Ha
ck
Bla
! "
Stowaway St
Cre
ek
Prov
Ranchero Rd
© City of Cedar Falls, Iowa. The City of Cedar Falls does not guarantee the accuracy of the information contained on maps accessible on 58 this site. This information is provided for demonstration purposes only. All warranties, express and implied, are hereby disclaimed.
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Cedar Heights Dr
Hudson Rd
Innovation Dr
T
Ward 1: Gil Shultz
Ranchero Rd
Mayfair St Harrow Rd
Lam b e Oak Pa
Orchard Pl
Green Creek Rd
Viking Plaza Dr
Savannah Park Rd South Prairie Lake
Technology Pkwy
At Large: Hannah Crisman
B i c ente
Castle St
Drynan Dr
Dr
Way
North Prairie Lake
Mayor: Danny Laudick
Ward 4: Aaron Hawbaker
Cardinal Dr
lac
vd
nrod
Viking Rd
Precinct 3
Capital Way
e
de
Brandilynn Blvd
Poplar Hollow Ln
Technology Pkwy
Cottonwood Ln
Cadil
ty Av
Gol
Arbor Way Blvd
Venture Way
Rd
you
d Bl
Gran
ll le Hi Creek Cast
Terrace Dr
Greenhill Rd
isperin Wh
Ba
Rd
Loma St
Viking Rd
Savory Ln
Danish Dr
ce rra
Rd
r
iew
ber D
Hyacinth Dr
ie V
Pleasant Dr
Greenhill Dr
Purple Clover Dr
Lemongrass Dr
P r a ir
y
Dr
Ridge
Knoke Pl
g Pine
Parsley Dr
Nordic Dr Westminster Dr
G reen Cre e k
Pkw
Winter Ridge Ln
Dr
ter Pkwy
irie
d
Valley High Dr
ie Os Prair Ct Ln er
Pra
Shooting Star Way
Blv
ersi
Primrose
og
v
Tilton Dr
Te
Univ
Valley High Dr
Wil
llfr
e
Tim
nd
Bicentennial Dr
Dr
Briarwood Dr
Bu
Ave
Gra
Precinct 3
Orchard Dr
d F lo w
y
ood
Sunset Blvd
t
ll
Faithway Dr
grass C t lue
s an
Dr
eek Dr Spruce Needle Ln
Plea
Ln
Briarwood Hills Dr
ce Cr
nw
Maplewood Dr
Carlton Dr
r
Elmridge Dr
Precinct 2
r
dD
Gree
Precinct 1
Windsor Dr
Spru
Rosemary Dr
Iris Dr
Nordic Ridge Dr
Homeway Dr
l Trl
Carlton Dr
i e Ct
K ae
ke
oo
ak Ave SO
Rd
Piza r r o
Alvarado Ave
Mau
nw
d
Wild R y e Wa
Timber Cove Dr
Viking Rd
Seaward Dr
Cir
o rlo
a Dr
Ave
id
Am
el i
Ky l
Quesada Ave
in
L
rt
Sta
len
Hills Dr
Cordoba Ave
Algonquin Dr
Me
Heritage Rd
Erik Rd
Meadow View Cir
r
dD oo
Ba rk w o od Dr Boxwood Dr
Loren Dr
Dr
Ash wo
Austin Way
Vera Way nw Iro
Autumn Woods Dr
Amber Valley Rd
Lloyd Ln
qu
Cohen Ct
Erik Rd
Arbor Ridge Rd Maple Grove Dr
Harriet Ln Athens Ct Andover Ct
Bonita Blvd Devlin gs Cir trom Blv d
Ber
Westgate Ave
Balboa Ave
Fountains Way
Alg on
Reese Rd Ashworth Dr
Norse Dr
r
Flynn Dr
Ann Ave
Calumett Dr
y Ln
Precinct 2 Algonquin Dr
D Donald Dr ood
Ironw
Eden Way
Andy Ave
rn
Sunnyside Dr
Lake Manatt
Woodland Dr
Hawthorne Dr
Dr
Aco
Lilac Ln
Rd
Dr
27 ! " 58 " !
Carol Ct
Pin Oak
Melrose Dr
Colorado
Spruce
oe Dr
Richard Rd Blythe Blvd
Utah Rd
n Rd Orego
Laverne Ln
Wild Rose Ct
Arizona Rd
Latham Pl
Evergreen Ln
Brookside Dr
Madison St
e C ir
Idaho Rd
n n i ng s D r
Par
Oak
Parker St
te Wa
University Ave
Je
Continental Acc
S u nys n
26th St
Rainbow Dr
r
kD
r ay D
Grand Blvd
Melrose Dr
Dr
Mandal
Precinct 2
Madison St
r
Shirey Lake
Co
rson PatteLn
Dr
Market St
dD
28th St
t
ir
urt
Co
Newman Ave
19th St
Irving St
sS
S
27 ! "
r
ive
rR
St
oley
k Par
29th St Dr
l d i n e Rd
George Wyth Lake
da
Ce
58 ! "
Linnw o o
25th St
Alice Wyth Lake
Pkwy
18th St
pu
Greenhill Rd
rsit
D18
St
kC
ec
rb
Sta
Leigh Ln
y Ru
A s hworth Dr
4
23rd St
Greenhill Rd
k (S
Dr
ve yA
21st St
Starview Dr
Continental Dr
ee
ive
Precinct 1 20th St
Springbrook Dr
W)
Un
ota
Dak
Hilton Dr
n Cr
18th St
Union Dr
Library Dr
University Dr
side ok Bro Four Winds Dr
lit y
Seerley Blvd
31st St
rsesh
17th St
22nd St
Redeker Dr
Dry Run Creek (W)
Uti
E 14th Ct
Cam
30th St
17th St
23rd St
Precinct 1
G er a
Wyth Rd
nd
27th St
W Airline Hwy
Hazelwood Ln
Fisher Lake
Po
Tiger Pkwy
Precinct 3
Dry Run Creek (Univ)
12th St
16th St
Wisconsin St
Prairie Rd
Precinct 3
15th St
Floral Ct
Hudson Rd
Pat Mitchell Way
Frontier Rd
10th St
14th St
ay
20th St
W Sunshine Ln
D17
9th St
13th St
19th St
Butternut Ln
218 ¡ ¢
lens
18th St
Superior Way
7th St
8th St
gew Rid Ln
Quail Hollow Ln
22nd St
4
it
Waterbury Dr
Beaver Rd
Flying Cloud Ln Meadow Ln
Summ
St
5th St
11th St
Dr
Dr
Laramie St
4th St 5th St
Drury Ln
Pendleton Dr
Breckenridge St
Broomfield Dr
Yale Pkwy
orse
Jakob Cir
Shelden Ave
Beech Ave
3rd St
6th St
12th St
Laurel Cir
Linden Ave
1st St
57 ! "
2nd St
Hacienda Ct
er R
r athe r Fe ge D id Qu R ail Ru nL n
Grant St
Mul
Stratford Ct
6th St
ence
Lincoln St
1st St
Precinct 2 5th St
pend
t
Rd
l e s Xing
Ridge Rd
Meadow Park Dr Parkway Ave | Ct
Parkway Ave
Alden Ave
ath
Fe
Quail Ridge Rd
y
Ke a g
Wellington Dr
Yorkshire Dr
Covey Ct
Concord Cir
Cobble Stone Ct
w
Oxford Ln Coventry Ln
un Tr l
s
Pk
Ida St
Inde
Bl uf f S
12th St
Pe t e r
Tierney Ter
Sonoma Dr
Ridge Rd
8th St
Alexis B l vd
Ridge
ite
a ir
Wi ld H
Bi
Dr
Newland Dr
Pebble Stone Pl
High St
Chateau Ct
4th St
Higby Dr
Lincoln St
Lakeshore Dr
3rd St
Crescent Dr
mes
Normandy Dr
! "
Ryan Dr
Fandre Dr
Abraham Dr
Harvest Ln
Theimer St
57
Hol
mn Ridg e A u tu Rd
il Dr
Cre
218 ¡ ¢ 27 ! "
St
McKinley St
Apollo St
Precinct 2
ek
ds
oo Big W
ain
EM
Horty St
Pheasant Dr
Linda Dr
Lark Ln E Main St
Logan St
Thresher Ct
Snag Creek
Row Ln
do
hlwo
od Cir
Shocker Rd
r River
S Park Rd
teta
under Rid ge Blvd Th
t
Beach St Maple St Park Pl 1s t Sl Linden Chestnut St ou gh St Pine St Glenwood Ave Elm St Woodland Ave Cottage Grv Oak St Edgewood St
S Forest Rd
Dr
Whi
ge Rd
ne Fieldsto Blvd
Timberledge Pl Timberledge Dr
Ceda
River Bluff Willow Dr Ave
Blvd
Mea
Winding R i d
Berry Hill Rd
R iv e r R i d g
Willow Bend Rd
Ln
N Ridge Cir
Paddington Dr
gh
Horizon Dr
ry
Shirley St
ugh
Westwood Dr d eR
Count
w
Wynnewood Dr
2nd Slou
Slo
RidgRive r e Ln
Minnetonka
N Union Rd
nd Pl
Big Wood Lake
rS
r
3rd
s Po
Northview Ln Glen Oaks Dr
S Ridge Dr
p
1st St
Alice Ave
nte
Cottage
Walter
Falcon Ln
Precinct 1 ut Ln
Eagle Ridge Rd
Lake Ridge Dr
City Council meetings are held the 1st and 3rd Monday of each month in the Council Chambers at City Hall. The meetings are also live-streamed on theChannel 15 YouTube channel at bit.ly/CFChannel15.
Ce
N Cottage Row Rd
w Rd
s C ir
ge Ro
WARDS & PRECINCTS >
Joanne St
Joy St
Cotta
Maintain and improve the safety and desirability of Cedar Falls through the efficient delivery of public services, and the ongoing practice of open communication among Council, Staff, Mayor, and Citizens.
Winters Dr
Center St
ve
Maverick Ave
Ford Rd
B ea
Skyview Dr
MISSION STATEMENT:
Williamson Ave
Fox View Dr
Fitkin Rd
r Cree
Cedar Falls operates under a Mayor/Council form of government with an appointed City Administrator.
F
Symons Rd
City of Cedar Falls, Iowa
Waverly Rd
ke d La ilroa Ra
The City Council is the main decision-making body of Cedar Falls. Five members represent each of the City’s five wards, while two serve in at-large positions. The term of office for the Mayor is two years while the term of office for Council members is four years.
Timber Ridge Rd
MAYOR AND COUNCIL
Date: 10/1/2024
CEDAR FALLS BY THE NUMBERS Land area: 28.9 square miles Population: 40,713 Population up 3.7% since 2010 Median age: 30 years old Median home value: $275,900 Median household income: $74,165 Average income: $56,779 Unemployment rate: 4.3 % Top 5 employers: John Deere, MercyOne Medical, UNI, Hy-Vee, and Western Home Communities
5
Governmental Revenues FY25 Fines & Forfeitures, 0.41% Licenses & Permits, 1.46% Utility Contributions, 2.66%
REVENUES
Charges for Services, 4.62%
WHERE DOES THE MONEY COME FROM?
Miscellaneous, 5.51%
A large portion of revenue is from property taxes. For FY 2025, the City Council assessed a property tax rate of $11.86 per $1,000 of property valuation. Out of the top 20 Iowa cities in population, we ranked sixth lowest in property tax rate. This rate can be attributed to the City’s dedication to streamline operations. At the heart of Cedar Falls’ financial strength lies a diverse revenue stream that fuels our city’s growth, amenities, and sustainability. For fiscal year 2024-2025, our governmental revenues totaled $69,238,306. This provided the critical funding to enhance public services, invest in infrastructure, and support community initiatives. Our commitment to transparency and the responsible stewardship of public resources ensures that every dollar is carefully managed and allocated to maximize community benefits.
Use of Money & Property, 6.67%
Other City Taxes, 12.55%
Intergovernmental, 17.09%
Property Taxes, 49.03%
Revenues
2025
2024
2023
33,945,772 $
29,787,563 $
29,868,327
Intergovernmental
11,831,230
16,289,695
13,039,930
Other City Taxes
8,691,822
9,011,127
8,319,954
Use of Money &Property
4,619,984
5,008,163
3,453,982
Charges for Services
3,201,461
2,859,239
2,726,241
Utility Contributions
1,843,332
3,011,439
2,988,665
Licenses & Permits
1,009,196
1,125,993
957,514
Fines & Forfeitures
281,004
321,576
357,902
3,814,505
7,819,598
2,854,438
69,238,306 $
75,234,393 $
64,566,953
Taxes
Miscellaneous Total Revenues
6
$
$
Expenditures
2025
2024
2023
20,809,086 $
17,530,326 $
22,828,330
Public Works
20,656,850
26,831,789
21,128,754
Public Safety
15,802,960
15,677,331
12,761,120
Culture & Recreation
9,029,598
9,747,189
7,266,263
General Government
6,275,388
5,586,237
5,166,671
Community & Economic Development
3,351,569
3,152,908
2,666,192
Debt Service
1,583,705
1,471,350
1,179,108
301,463
26,644
26,470
77,810,619 $
80,023,774 $
Capital Projects
$
Health & Social Services Total Expenditures
$
73,022,905
Governmental Expenditures FY25
Capital Projects, 26.74%
Public Works, 26.55%
EXPENDITURES WHERE DOES THE MONEY GO? Our commitment to the residents of Cedar Falls is reflected in how we allocate our expenditures. For fiscal year 2024–2025, our governmental expenditures totaled $77,810,619. Our expenditures prioritized funding that improves the quality of life, safety, and sustainability of our city. By strategically allocating our expenditures, we ensure that every dollar spent translates into meaningful improvements and services that benefit all residents of Cedar Falls. Our careful stewardship of public money allows us to continue building a thriving, prosperous community.
Public Safety, 20.31%
Culture & Recreation, 11.60%
General Government, 8.06% Community & Economic Development, 4.31% Debt Service, 2.04% Health & Social Services, 0.39%
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CAPITAL IMPROVEMENT PROJECTS
The Capital Improvements Program (CIP) focuses on maintaining and improving infrastructure and amenities, like streets and parks. CIP projects are important because they keep our city in good shape and enhance the quality of life for our residents. Below are some projects included in our CIP.
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SEERLEY PARK RENOVATION
MAIN STREET RECONSTRUCTION
CEDAR FALLS NATATORIUM
Since it’s establishment in 1893, Seerley Park has served as a valued gathering place where residents in the College Hill neighborhood can relax, play and connect. Renovations include a new shelter and upgrades to the playground equipment, including inclusive park elements to provide recreation to individuals of all ages who have special needs.
After three years of progress, the Main Street Reconstruction Project is nearing the finish line! This project enhances safety, increases mobility for vehicles, pedestrians, and bicycles, replaces aging underground infrastructure, and beautifies the streetscape. The reconstruction is expected to be completed November 2025!
This new indoor pool complex, located at Cedar Falls High School, features a competition pool and a separate recreation/ therapeutic pool. It will be available for use by the community and the school district. The natatorium is a collaborative project between the City, Black Hawk County Gaming, and the school district, as well as other donors.
NET POSITION
One of the most important questions asked about the City’s finances is, “Is the City in a better financial position this year compared to last year?” The Statement of Net Position helps answer this question. It accounts for all assets, deferred outflows of resources, liabilities, and deferred inflows of resources, with the difference being net position.
The largest portion of the City’s net position is reflected in its net investment in capital assets ($387,686,667 or 77.578%). The City uses these capital assets to provide services to residents making them unavailable for future spending.
Net Investment in Capital Assets: $387,686,667 (77.578%)
Restricted: $24,620,666 (4.927%)
The unrestricted net position (87,429,883 or 17.495%) is the remaining portion of net position which is considered available. Unrestricted: $87,429,883 (17.495%)
GOVERNMENTAL ACTIVITIES
This accounts for most of the City’s basic services. It includes revenues that finance these activities, including property tax, local option sales tax, road use tax, and grants and what the funds are spent on, including streets, parks, public safety, and more.
2024
The restricted net position (24,620,666 or 4.927%) represents funds which are segregated and designated for a specific use. These most commonly reflect programs with external funding sources imposing special requirements and restrictions.
BUSINESS-TYPE ACTIVITIES This includes fees charged for providing services to customers, including sewer, refuse, and storm water.
2024
2025
2025
2024
$377,614,834
NET POSITION TOTAL
$390,449,162
$105,664,268
2025
$109,288,054
$483,279,102
$499,737,216
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UNDERSTANDING CITY DEBT
The City uses long-term debt to fund the design, inspection, and construction of capital improvement projects, but debt is not used for annual operating expenses. The total general obligation debt will not exceed 5% of the total assessed value of real property as required by Iowa Code. Whenever possible, the City refinances existing debt to get better interest rates.
GOVERNMENTAL ACTIVITIES
BUSINESS-TYPE ACTIVITIES
CITY DEBT TOTAL
2025 2024
2025 2024
2024
$17,492,000
$15,508,000
$6,397,000
$7,723,000
$11,095,000
$7,785,000
2025
Aaa BOND RATING Once again, the City has achieved a Aaa bond rating as determined by Moody’s Ratings! As the highest rating attainable, this accomplishment reflects our bond obligations to be of the highest quality and subject to the lowest level of credit risk. This high credit rating makes our bonds more attractive to investors and lowers borrowing costs, saving taxpayer money!
CEDAR FALLS BY THE NUMBERS 227 Full-time Employees
226 miles of Streets Maintained
76 Full-time Public Safety Employees
5 Employees per 1,000 Residents— Ranking 17 out of Top 20 Iowa Cities
12 Patrol Units 35 Parks
1,148 acres of Parks Maintained
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9 Firetrucks
LOOKING AHEAD
Every year, the Mayor and Council meet to discuss goals and initiatives for the upcoming year to help organize ideas and set the stage for a successful year. These goal setting meetings created many of the projects in our Capital Improvements Program. These projects are usually expensive and permanent in nature and include streets, parks, and more. Funding for these projects is allocated through the annual budget process. The City budget process begins well before the actual start of the fiscal year, which for next year is July 1, 2026. Your early input and participation influence what services are provided and how resources are allocated. Get involved and make a positive impact!
COUNCIL GOAL SETTING The Mayor and Council will hold multiple goal setting meetings in December. December 4, 2025 at 5:00 pm December 8, 2025 at 5:00 pm December 17, 2025 at 5:00 pm Watch the City’s website for information regarding these meetings!
FUTURE PROJECTS Many future projects are necessary to enhance our community, increase our quality of life, and attract and retain tourism, business, and economic development. Our future projects and initiatives can be found in our Capital Improvements Program (CIP) on our website!
FUTURE TENTATIVE BUDGET DATES Attend the following meetings at City Hall (220 Clay St.): February 16, 2026 at 7:00 pm
Set Date of Special Meeting Public Hearing
April 6, 2026 at 5:15 pm
Special Meeting on Public Hearing
April 6, 2026 at 7:00 pm
Set Date of Budget Adoption Hearing
April 20, 2026 at 7:00 pm
Public Hearing & Final Adoption
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www.cedarfalls.com NOTIFY ME Subscribe for email and text updates to a number of Cedar Falls event and projects at www.cedarfalls.com/notifyme.
Recent and past issues of this seasonal publication are available on the city website at www.cedarfalls.com/currents.
CITY OF CEDAR FALLS PODCAST
THE CABLE TELEVISION DIVISION administers the Cedar Falls Cable Television franchise and provides cable television programming for local cable subscribers. We also produce city television programming which includes City Council meetings, Planning and Zoning Commission meetings, currents up close, Cedar Falls City News, and in depth documentaries.
Download the CityCF MOBILE APP Search for “CityCF” the Apple Store. Search for “CityCF” in the Google Play Store.
This PAFR is designed to provide a fundamental understanding of our city government, local economic conditions, and where our financial position stands. If you have questions about this report or need additional information, contact the Department of Finance and Business Operations, 220 Clay Street, Cedar Falls, Iowa 50613.
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