January 2026
Financial Overview
1. General Fund
• Total General Fund revenues are 1.30% above budget and approximately $1.6M, or about 4.6%, higher than the same period in FY 2024-2025 The overall increase year-over-year is entirely attributable to an increase in nearly every category of revenues, particularly in R eal Estate T ax, Sales T ax, and Intergovernmental and revenue received earlier this year from the Use Tax waterfall Use Tax receipts continue to trend higher year-over-year.
• Property tax receipts are up 3.14% compared to budget and are approximately $285,000 higher than the previous year Actual s ales tax receipts are up slightly compared to budget at 0.10% but revenues are about $300,000 higher year-over-year, or about 2. 4%
• By business activity month, City’s sales tax receipt s remain essentially flat from the period covering December 2024 through November 2025 R etail sales over the past 12 months are $2,421,654,856, or a decrease of $5.3M in retail sales from the year prior. Business activity has swung significantly month-to month since July 2025 when it ticked up 4. 5% higher than the same period last year, fell in August to -0 2% and was down -6. 4% in September and rebounded back up 6.0% in October compared to the same months last year Regional inflation was 3.05% through November 2025 for the prior 12 month period.
Sales Tax Growth by Business Activity Month
Independence Annual Growth Rate in Economy Over-the-Year % Change in CPI (Midwest)
• Overall, Use Tax has seen an annual growth rate of 5.7%, compared to an annual growth rate of 9.3% in November 2025 by business activity month November 2025 receipts were down 5.7% 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
Independence Annual Growth Rate in Economy Over-the-Year % Change in CPI (Midwest)
2. Sales Tax Funds
• Revenues – Most sales tax funds are trending 1.0 to 2.0% 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. These funds all exceeded budgeted revenue for investment income, and several have met or exceeded 100% of budget only halfway through the fiscal year.
• Expenditures – All 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 above budget in personnel expenditures at 63.73%, or about 5.4% higher than expected budget. The increase is primarily due to overtime expenditures midway through the year. Finance Department staff is working closely with Police Department staff to monitor ongoing expenditures. Finance Department staff is monitoring fund balance, and as expenditures come back into line with budget and Use Tax receipts are received it is expected to be corrected by year-end.
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 Use Tax expenditures are trending down to budget at 54.66% year-to-date.
4. Property Tax Levy Funds
• Both the Health Property Tax Levy and Parks and Recreation Property Tax Levy funds are trending slightly above budgeted property tax 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 happen until next fiscal year in the form of a tax credit.
• Expenditures – Expenditures in the Health Property Tax levy are trending below budget by 7.22% and expenditures in the Parks and Recreation Property Tax Levy are trending above budget by 4.41% 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 5.63% above budget , with actual receipts for Transient Guest Tax down compared to the same period in the prior year. However, revenues are trending down compared to the same period in the last fiscal year by about $67,600, or about 4.6%. Overall, revenues in this fund are 5.63% above budget half-way through the fiscal year.
• Expenditures are trending 3. 88% 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. 30% below budgeted operating revenues, although the fund exceeds non-operating 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 3.20% 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 offset by higher Interfund Charges to the Water and Sewer Funds for services . No category is exceeding expected budget year-to-date.
ii. Water operating expenditures are trending lower compared to the same period last year, and are up 4.84% 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 but are below budget by 0.32%.
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule General Fund For the period ended January 31, 2026
CITY OF INDEPENDENCE, MISSOURI
Budgetary
CITY
OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Park Improvements Sales Tax Fund For the period ended January 31, 2026
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Storm Water Sales Tax Fund For the period ended January 31, 2026
Expenditures:
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Police Public Safety Sales Tax Fund For the period ended January 31, 2026
3,533,229
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Fire Protection Sales Tax Fund For the period ended January 31, 2026
Cancellation 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 January 31, 2026
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Proposition PD Sales Tax Fund For the period ended January 31, 2026
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 (1,224,734)
Other Fund Balance Components:
Restricted - Current Year Encumbrances
Restricted - Prior Year Encumbrances
Total Fund Balance $ (440,238)
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Animal Shelter Use Tax For the period ended January 31, 2026
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Police Use Tax For the period ended January 31, 2026
CITY OF INDEPENDENCE, MISSOURI
Budgetary
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Parks and Recreation Property Tax Levy For the period ended January 31, 2026
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Tourism Fund For the period ended January 31, 2026
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Independence Square Benefit District For the period ended January 31, 2026
CITY OF
INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Community Development Block Grant Fund For the period ended January 31, 2026
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Rental Rehabilitation For the
Balance
CITY OF INDEPENDENCE, MISSOURI Budgetary Comparison Schedule License Surcharge For the period ended January 31, 2026
1,337,554
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Grants For the period ended January 31, 2026
Revenues:
Expenditures:
sources:
Expenditures:
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule American Rescue Plan (ARP) For the period ended January 31, 2026
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
For the period ended January 31, 2026
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Power and Light - Open Capital Projects As of January 31, 2026
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
For the period ended January 31, 2026
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
For the period ended January 31, 2026 Water Capital Projects Fund
Water - Open Capital Projects As of January 31, 2026
of Revenue and Other Financing Sources Over (Under) Expenditures and Other Financing Uses, Budget Basis
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Sanitary Sewer
For the period ended January 31, 2026
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Sanitary Sewer Capital Projects Fund
For the period ended January 31, 2026
Sanitary Sewer - Open Capital Projects As of January 31, 2026
Budgetary Comparison Schedule CITY OF INDEPENDENCE, MISSOURI
(1,130,628)
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Events Center Debt Service Capital Project Fund
For the period ended January 31, 2026
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Central Garage For the period ended January 31, 2026
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Staywell Health Care For the period ended January 31, 2026
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Workers' Compensation For the period ended January 31, 2026
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Risk Management For the period ended January 31, 2026
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Finance & Support Services For the period ended January 31, 2026
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Finance & Support Services Capital Project Fund For the period ended January 31, 2026
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 January 31, 2026
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Street Improvements Capital Project Fund
For the period ended January 31, 2026
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Police Improvements Capital Project Fund For the period ended January 31, 2026
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Fire Improvements Capital Project Fund For the period ended January 31, 2026
(3,607,102)
Expenditures:
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
General Obligation Bonds Capital Project Fund For the period ended January 31, 2026
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 (28,875,187) Year-End Investment Market Value Adjustment Ending Unassigned Fund Balance (12,297,903)
Other Fund Balance Components:
Committed - Current Year Encumbrances 12,228,007
Committed - Prior Year Encumbrances
Restricted - Debt Reserve Project Accounts - Capital Projects 28,875,187
Total Fund Balance $ 28,805,291
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Revolving Public Improvements Capital Project Fund For the period ended January 31, 2026
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 January 31, 2026
Excess of Revenues Over (Under) Expenditures and Other Financing Uses, Budget Basis
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Storm Drainage Capital Project Fund For the period ended January 31, 2026
Total Fund Balance $
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Independence Events Center CID For the period ended January 31, 2026
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Crackerneck Creek TDD
For the period ended January 31, 2026
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
For the period ended January 31, 2026
Excess of Revenue and Other Financing Sources Over (Under) Expenditures and Other Financing Uses, Budget Basis $
Other Fund Balance Components:
Restricted - Current Year Encumbrances
Restricted - Prior Year Encumbrances
Restricted - City Transportation
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
For the period ended January 31, 2026 Hub Drive TDD
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Tax Increment Financing Summary For the Period Ended January 31, 2026
of Prior Year Encumbrances Change in Other Fund Balance Components During the Year Year-End Investment Market Value Adjustment
Ending Fund Balance
Fund Balance
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Santa Fe TIF For the Period Ended January 31, 2026
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Eastland TIF
For the Period Ended January 31, 2026
of Revenues Over (Under) Expenditures and Other Financing Uses
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 January 31, 2026
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Old Landfill TIF
For the Period Ended January 31, 2026
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Trinity TIF For the Period Ended January 31, 2026
Other Fund Balance Components:
- Current Year Encumbrances Restricted - Prior Year Encumbrances Restricted - Trust Debt Service
CITY OF INDEPENDENCE, MISSOURI Budgetary Comparison Schedule HCA TIF
For the Period Ended January 31, 2026
Excess
CITY OF INDEPENDENCE, MISSOURI Budgetary Comparison Schedule
Cinema East TIF For the Period Ended January 31, 2026
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule 23rd & Noland Project 2 TIF For the Period Ended January 31, 2026
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
23rd & Noland Project 3 TIF For the Period Ended January 31, 2026
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule 23rd & Noland Project 4 TIF For the Period Ended January 31, 2026
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Independence Square TIF For the Period Ended January 31, 2026
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
I-70 & Little Blue Parkway Project 1 TIF For the Period Ended January 31, 2026
Excess
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule I-70 & Little Blue Parkway Project 3 TIF For the Period Ended January 31, 2026
CITY OF
INDEPENDENCE,
MISSOURI Budgetary Comparison Schedule Marketplace Project 1 TIF For the Period Ended January 31, 2026
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Marketplace Project 2 TIF For the Period Ended January 31, 2026
CITY
OF INDEPENDENCE, MISSOURI
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
TIF Supplemental Appropriation Fund For the Period Ended January 31, 2026