December 2025
Financial Overview
1. General Fund
• Total General Fund revenues are 0.88% above budget and approximately $1M, or about -2.0%, lower than the same period in FY 2024-2025 The overall decrease year-over-year is entirely attributable to a decrease of $1,035,143 that was received from ARP dollars to offset costs for increased IPD salaries The Use Tax waterfall began this month, one month earlier than the prior year Use Tax receipts continue to trend higher year-over-year.
• Property tax receipts are up 2.85% compared to budget and are approximately $200,000 higher than the previous year Actual s ales tax receipts are down slightly compared to budget at -0.57% but revenues are about $225,000 higher year-over-year, or about a 2.1%
• By business activity month, City’s sales tax receipt s remain essentially flat from the period covering November 2024 through October 2025. R etail sales over the past 12 months are $2,420,826,903, or a decrease of $1.3M in retail sales from the year prior. Business activity in July 2025 ticked up 4. 5% higher than the same period last year but fell in August to -0.6% and was down -6.5% in September and back up 4.9% in October compared to the same months last year Regional inflation information is not available for October 2025 due to the federal government shutdown
Sales Tax Growth by Business Activity Month
• As mentioned above, the waterfall of Use Tax receipts to the sales tax funds began this period. Overall, Use Tax has seen an annual growth rate of 6.8%, compared to an annual growth rate of 11.5%in October 2024 by business activity month. October 2025 receipts were up 1.1% compared to the same month the year before. As the Use Tax chart shows, December 2023 is the peak of the tax receipt growth rate and true trends will begin emerging moving forward.
Use Tax Growth by Business Activity Month
2. Sales Tax Funds
• Revenues – Most sales tax funds are trending 2.5 to 3.5% below budget . This is due to sales tax trending close to budgeted amounts but are expected to improve as the sales tax waterfall progresses through the end of the year. Most of t hese funds have exceeded budgeted revenue for investment income, and several have met or exceeded 100% of budget only half way through the fiscal year.
• Expenditures – Most of the special sales tax funds , are trending below budgeted expenditures . Total expenditures in several sales tax funds appear to be trending high to budget, but are due to transfers out to Capital Projects.
i. Prop PD Sales Tax Fund is trending above budget in several areas including equipment, other services and trending slightly above budget in personnel expenditures at 50.8% mid-way through the year.
3. Use Tax Funds
• Revenues for both Animal Shelter Use Tax and Police Use Tax are trending higher compared to the same month last year. Both use tax funds have now met 100% of their budgeted use tax amounts, triggering the waterfall into the other sales tax funds one month earlier this year.
• Expenditures – Animal Shelter Use Tax is trending below budget while the Police Use Tax fund is trending above expected budgeted expenditures due to transfers out to Capital Projects. Police personnel expenditures in the fund are trending slightly up to budget at 50.9% and operating supplies at 52.5%
4. Property Tax Levy Funds
• Both the Health Property Tax Levy and Parks and Recreation Property Tax Levy funds are trending slightly above budgeted revenues , up nearly 4.0% above budget in both funds There should be no major fiscal impact this year to the receipts in these funds as any changes to Assessed Valuations by Jackson County won’t occur until next fiscal year in the form of a tax credit.
• Expenditures – Expenditures in the Health Property Tax levy are trending below budget and expenditures in the Parks and Recreation Property Tax Levy are trending above budget by 4.4% Expenses in the Parks and Recreation Property Tax Levy are trending higher to the same period last year in all areas including personnel services, supplies, and other services.
5. Tourism
• Revenues are trending 4.68% above budget , with actual receipts for Transient Guest Tax down compared to the same period in the prior year. Overall, revenues in this fund are 6.57% above budget half-way through the fiscal year.
• Expenditures are trending 3.68% below budget This amount includes the monthly payments to Visit Independence per their contract.
6. Enterprise Fun ds
• Revenues - Power and Light and Water and are exceeding budgeted operating revenues . Power and Light non-operating revenues are exceeding budgeted revenues due to higher-than-expected investment income. Higher Interfund Charges for Support Services revenues are due to the restructure of Utility Customer Service from the Water Fund to Power & Light ; Sanitary Sewer is 2.62% below budgeted operating revenues, although they are exceeding nonoperating revenues due to higher-thanbudget investment income
• Expenditures : i. Power and Light operating expenditures are trending much higher in this fiscal year compared to the same period last year, although they are 1.96% below budget Higher YTD expenditures in Personnel Services, Other Services and Supplies are leading to the increased expenditures compared to the same period last year Personnel Services increases are largely due to the
restructuring of Utility Customer Service from the Water Fund to the Power and Light Fund, this expense is directly offset by higher Interfund Charges. Only Other Services and Supplies are exceeding expected budget . The fund has transferred about $350,000 more compared to the same period last year to the Capital Projects Fund for in-progress CIPs.
ii. Water operating expenditures are also trending higher compared to the same period last year, and are up 6.01% compared to budget. This is due to expenditures in capital operating and debt service categories, although debt service is paid on specific dates and is not reflective of higher-thanbudgeted expenditures at year-end.
iii. Sanitary Sewer operating expenditures are trending higher compared to the same period last year and are exceeding expected budget by 3.60%.
CITY
OF
INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule General Fund For the period ended December 31, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Street Improvements Sales Tax Fund For the period ended December 31, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Park Improvements Sales Tax Fund For the period ended December 31, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Storm Water Sales Tax Fund For the period ended December 31, 2025
Expenditures:
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Police Public Safety Sales Tax Fund For the period ended December 31, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Fire Protection Sales Tax Fund For the period ended December 31, 2025
of Prior Year Encumbrances
Change in Other Fund Balance Components During the Year Year-end investment market value adjustment Ending Unassigned Fund Balance
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Marijuana Sales Tax Fund For the period ended December 31, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Proposition PD Sales Tax Fund For the period ended December 31, 2025
Unassigned Fund Balance at Beginning of Year 1,160,075
Cancellation of Prior Year Encumbrances
Change in Other Fund Balance Components During the Year Year-end investment market value adjustment
Ending Unassigned Fund Balance (154,371)
Other Fund Balance Components:
Restricted - Current Year Encumbrances 899,969
Restricted - Prior Year Encumbrances
Total Fund Balance $ 745,598
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Animal
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Police Use Tax For the period ended December 31, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Health Property Tax Levy For the period ended December 31, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Parks and Recreation Property Tax Levy For the period ended December 31, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Tourism Fund For the period ended December 31, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Independence Square Benefit District For the period ended December 31, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Community Development Block Grant Fund For the period ended December 31, 2025
Unassigned Fund Balance
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Rental Rehabilitation For the period ended December 31, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule License Surcharge For the period ended December 31, 2025
Total Fund Balance $
1,334,903
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Grants For the period ended December 31, 2025
Revenues:
Expenditures:
sources:
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule American Rescue Plan (ARP) For the period ended December 31, 2025
Revenues (Expenses):
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
For the period ended December 31, 2025 Power and Light
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Power and Light - Open Capital Projects As of December 31, 2025
Revenues (Expenses):
of Revenue and Other Financing Sources Over (Under) Expenditures and Other Financing Uses, Budget Basis
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
For the period ended December 31, 2025 Water
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Water Capital Projects Fund
For the period ended December 31, 2025
Water - Open Capital Projects As of December 31, 2025
of Revenue and Other Financing Sources Over (Under) Expenditures and Other Financing Uses, Budget Basis
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
For the period ended December 31, 2025 Sanitary Sewer
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Sanitary Sewer Capital Projects Fund
For the period ended December 31, 2025
Sanitary Sewer - Open Capital Projects As of December 31, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Events Center Debt Service
For the period ended December 31, 2025
(1,130,628)
(970,948)
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Events Center Debt Service Capital Project Fund
For the period ended December 31, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Central Garage For the period ended December 31, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Staywell Health Care For the period ended December 31, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Risk Management For the period ended December 31, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Finance & Support Services For the period ended December 31, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Finance & Support Services Capital Project Fund For the period ended December 31, 2025
Unassigned Fund Balance at Beginning of Year Cancellation of Prior Year Encumbrances Change in Other Fund Balance Components During the Year Ending Unassigned Fund Balance Non-GAAP Basis (395,166)
Other Net Position Components: Assigned - Current Year Encumbrances 395,166 Assigned - Prior Year Encumbrances
Total Fund Balance $
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Debt Service For the period ended December 31, 2025
CITY OF
INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Street Improvements Capital Project Fund
For the period ended December 31, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Police Improvements Capital Project Fund For the period ended December 31, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Fire Improvements Capital Project Fund For the period ended December 31, 2025
(3,607,102)
Expenditures:
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule General Obligation Bonds Capital Project Fund For the period ended December 31, 2025
Excess of Revenues Over (Under) Expenditures and Other Financing Uses, Budget Basis $
Unassigned Fund Balance at Beginning of Year
Cancellation of Prior Year Encumbrances
Change in Other Fund Balance Components During the Year (28,798,814)
Year-End Investment Market Value Adjustment Ending Unassigned Fund Balance (5,447,496)
Other Fund Balance Components:
Committed - Current Year Encumbrances 5,432,304
Committed - Prior Year Encumbrances
Restricted - Debt Reserve Project Accounts - Capital Projects 28,798,814
Total Fund Balance $ 28,783,622
of Revenues Over (Under) Expenditures and Other Financing Uses, Budget Basis $
Fund
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Revolving Public Improvements Capital Project Fund For the period ended December 31, 2025
of Revenues Over (Under) Expenditures and Other Financing Uses, Budget Basis
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Buildings and Other Improvements Capital Project Fund For the period ended December 31, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Storm Drainage Capital Project Fund For the period ended December 31, 2025
Balance $
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Independence Events Center CID For the period ended December 31, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Crackerneck Creek TDD
For the period ended December 31, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Drive CID
For the period ended December 31, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
For the period ended December 31, 2025 Hub Drive TDD
Other Fund Balance Components:
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Tax Increment Financing Summary For the Period Ended December 31, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Santa Fe TIF For the Period Ended December 31, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Eastland TIF
For the Period Ended December 31, 2025
Other Fund Balance Components: Restricted - Current Year Encumbrances Restricted - Prior Year Encumbrances Restricted - Trust Debt Service
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Crackerneck Creek TIF For the Period Ended December 31, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Old Landfill TIF For the Period Ended December 31, 2025
CITY OF INDEPENDENCE, MISSOURI Budgetary Comparison Schedule Trinity TIF For the Period Ended December 31, 2025
of Revenues Over (Under) Expenditures and Other Financing Uses
of Prior Year Encumbrances
Other Fund Balance Components:
- Current Year Encumbrances Restricted - Prior Year Encumbrances
- Trust Debt Service
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule HCA TIF For the Period Ended December 31, 2025
CITY OF INDEPENDENCE, MISSOURI Budgetary Comparison Schedule Cinema East TIF For the Period Ended December 31, 2025
CITY OF INDEPENDENCE, MISSOURI Budgetary Comparison Schedule 23rd & Noland Project 2 TIF For the Period Ended December 31,
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
23rd & Noland Project 3 TIF For the Period Ended December 31, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule 23rd & Noland Project 4 TIF For the Period Ended December 31, 2025
Excess
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Independence Square TIF For the Period Ended December 31, 2025
of Prior Year Encumbrances Change in Other Fund Balance Components During the Year Year-End Investment Market Value Adjustment
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
I-70 & Little Blue Parkway Project 1 TIF For the Period Ended December 31, 2025
CITY OF
INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
I-70 & Little Blue Parkway Project 3 TIF For the Period Ended December 31, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Marketplace Project 1 TIF For the Period Ended December 31,
CITY OF INDEPENDENCE, MISSOURI Budgetary Comparison Schedule Marketplace Project 2 TIF For the Period Ended December 31,
CITY OF
INDEPENDENCE,
MISSOURI Budgetary Comparison Schedule Hub Drive TIF For the Period Ended December 31, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule