Financial Overview
1. General Fund
Revenue Analysis:
• Total General Fund revenues are 3.92% below budget and approximately $186,000 lower than the same period in FY 2024-2025. The decreased amounts in revenues in Licenses and Permits of $522,000 and about $100,000 in Payments in Lieu of Taxes from FY 2024-25 are offset by an increase in revenues in several categories including Fines and Forfeitures, Sales Tax and Intergovernmental. The overall budget to actual percentage will continue to trend low until Property Tax revenue is realized later this year and Use Tax receipts begin receipt in the General Fund in early 2026. These two categories of revenues make up about 9.5% of all General Fund revenues.
• Actual sales tax receipts are slightly up compared to budget at 0.16% and revenues are essentially flat year-over-year. By business activity month, the City has experienced a very slight increase in growth of 0 1% from August 2024 through July 2025 Total retail sales over the past 12 months are $2,421,720,595, or an increase of $2.5M in retail sales from the year prior. There were two consecutive months of sales tax receipt growth for business activity in April and May 2025, and a decrease in June by 1.1% year-over-year. Business activity in July 2025 ticked up 3.7% higher than the same period last year. Regional inflation is 2.6% over the same prior 12-month period
Sales Tax Growth by Business Activity Month
• As mentioned above, Use Tax receipts have not yet been received in the General Fund. Overall, Use Tax has seen an annual growth rate of 7.0%, compared to an annual growth rate of 18.5% in July 2024. July 2025 receipts were up 6.8% 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
Due to the fluctuation of revenues compared to budget previously discussed, the next few months will see the General Fund Unassigned Fund Balance dip compared to budgeted revenues. Like prior years, the fund balance is expected to recover to near prior levels as revenues are received.
2. Sales Tax Funds
• Revenues – All special sales tax funds either meet or are near expected revenues, with most funds experiencing sales tax receipts higher than the same period last year Most lower-than-expected revenues are attributed to the Use Tax waterfall that will hit the funds early in calendar year 2026.
• Expenditures – All special sales tax funds, with the exception of Storm Water Sales Tax, Fire Sales Tax and Prop PD Sales Tax, are trending below budgeted expenditures We will keep an eye on the two Public Safety Funds as they have even monthly transfer-in amounts from the General Fund.
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. Animal Shelter Use Tax has already met their budgeted revenue due to the increased receipts. Police Use Tax revenues are exceeding YTD amounts in 2025 by more than $275,000; if the trend continues, they will meet their budgeted revenue triggering the waterfall into the other sales tax funds sooner this year.
• Expenditures – Animal Shelter Use Tax is trending below budget while the Police Use Tax fund is trending 1.3% above expected budgeted expenditures
4. Property Tax Levy Funds
• Like General Fund, revenues for the Health Property Tax Levy and Parks and Recreation Property Tax Levy funds will not be realized until late fall. 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 and expenditures in the Parks and Recreation Property Tax Levy are trending above budget by 6.89%.
5. Tourism
• Revenues are trending 5.77% above budget, with actual receipts for Transient Guest Tax down compared to the same period in the prior year.
• Expenditures are trending 0.52% above budget
6. Enterprise Funds
• Revenues - Power and Light and Water Funds are exceeding revenues, while Sanitary Sewer is down 0.88% compared to budget
• Expenditures:
i. Power and Light operating expenditures are trending much higher in this fiscal year compared to the same period last year, and 4.08% higher compared to expected budget. Higher YTD expenditures in personnel services, other services and supplies are leading to the increase. Only other services and supplies are exceeding expected budget.
ii. Water operating expenditures are also trending higher compared to the same period last year, and are up 5.61% compared to budget.
iii. Sanitary Sewer operating expenditures are trending higher compared to the same period last year but are trending slightly below expected budget by 1.74%.
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule General Fund For the period ended September 30, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Street Improvements Sales Tax Fund For the period ended September 30, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Park Improvements Sales Tax Fund For the period ended September 30, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Storm Water Sales Tax Fund For the period ended September 30, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Police Public Safety Sales Tax Fund For the period ended September 30, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Fire Protection Sales Tax Fund For the period ended September 30,
Excess
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Marijuana Sales Tax Fund For the period ended September 30, 2025
Excess of Revenues Over (Under) Expenditures and Other Financing Uses
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Proposition PD Sales Tax Fund For the period ended September 30, 2025
Cancellation of Prior Year Encumbrances
Change in Other Fund Balance Components During the Year Year-end investment market value adjustment Ending Unassigned Fund Balance
Other Fund Balance Components:
Restricted - Current Year Encumbrances
Restricted - Prior Year Encumbrances
Total Fund Balance $
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Animal Shelter Use Tax For the period ended September 30, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Police Use Tax For the period ended September 30, 2025
Excess of Revenues Over (Under) Expenditures and Other Financing Uses
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Health Property Tax Levy For the period ended September 30, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Parks and Recreation Property Tax Levy For the period ended September 30, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Tourism Fund
For the period ended September 30, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Independence Square Benefit District For the period ended September 30, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Community Development Block Grant Fund For the period ended September 30, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Rental Rehabilitation For the period ended September 30, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule License Surcharge For the period ended September 30, 2025
of Prior Year Encumbrances Change in Other Fund Balance Components During the Year Year-end investment market value adjustment
1,324,714 Other Fund Balance Components: Restricted - Current Year Encumbrances Restricted - Prior Year Encumbrances Total Fund Balance $
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Grants For the period ended September 30, 2025
Revenues:
Expenditures:
CITY OF
INDEPENDENCE,
MISSOURI Budgetary Comparison Schedule
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
For the period ended September 30, 2025 Power and Light
CITY
OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Power and Light Capital Projects Fund
For the period ended September 30,
Power and Light - Open Capital Projects As of September 30,
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
For the period ended September 30, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Capital Projects Fund
Water - Open Capital Projects As of September 30, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Sanitary Sewer
For the period ended September 30, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Sanitary Sewer Capital Projects Fund
Sanitary Sewer - Open Capital Projects As of September 30, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Center Debt Service
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Events Center Debt Service Capital Project Fund
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Central Garage
For the period ended September 30, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Staywell Health Care
For the period ended September 30, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Workers' Compensation For the period ended September 30, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Risk Management For the period ended September 30, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Finance & Support Services For the period ended September 30, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Finance & Support Services Capital Project Fund For the period ended September 30, 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 (1,304,167)
Other Net Position Components: Assigned - Current Year Encumbrances 1,304,167 Assigned - Prior Year Encumbrances Total Fund Balance $
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Debt Service - Neighborhood Improvement Districts For the period ended September 30, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Street Improvements Capital Project Fund
For the period ended September 30, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Police Improvements Capital Project Fund For the period ended September 30, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Fire Improvements Capital Project Fund For the period ended September 30, 2025
3,533,149
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
General Obligation Bonds Capital Project Fund For the period ended September 30, 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 (28,617,774) Year-End Investment Market Value Adjustment Ending Unassigned Fund Balance (99,500)
Other Fund Balance Components: Committed - Current Year Encumbrances 99,500 Committed - Prior Year Encumbrances
Restricted - Debt Reserve Project Accounts - Capital Projects
Total Fund Balance $ 28,617,774
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Revolving Public Improvements Capital Project Fund For the period ended September 30, 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
Other Fund Balance Components: Committed - Current Year Encumbrances Committed - Prior Year Encumbrances 16 Total Fund Balance $ (484)
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Buildings and Other Improvements Capital Project Fund For the period ended September 30, 2025
(2,241,587)
CITY OF INDEPENDENCE, MISSOURI
Budgetary
Schedule
Fund
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Park Improvements Capital Project Fund For the period ended September 30, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Independence Events Center CID For the period ended September 30, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Crackerneck Creek TDD
For the period ended September 30, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
For the period ended September 30, 2025 Hub Drive CID
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
For the period ended September 30, 2025 Hub Drive TDD
of Revenues Over (Under) Expenditures and other financing uses
of
Fund Balance Components:
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Tax Increment Financing Summary For the Period Ended September 30, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
Santa Fe TIF
For the Period Ended September 30, 2025
CITY OF
INDEPENDENCE,
MISSOURI Budgetary Comparison Schedule
Eastland TIF
For the Period Ended September 30, 2025
Excess of Revenues Over (Under) Expenditures and Other Financing Uses $
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Crackerneck Creek TIF For the Period Ended September 30, 2025
Cancellation of Prior Year Encumbrances Change in Other Fund Balance Components During the Year Year-End Investment Market Value Adjustment Unassigned Ending Fund
Other Fund Balance Components:
Restricted - Current Year Encumbrances
Restricted - Prior Year Encumbrances Restricted - Trust Debt Service
Total Fund Balance $
CITY OF INDEPENDENCE, MISSOURI Budgetary Comparison Schedule Old Landfill TIF
For the Period Ended September 30, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Trinity TIF
For the Period Ended September 30, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule HCA TIF
For the Period Ended September 30, 2025
CITY OF
INDEPENDENCE,
MISSOURI Budgetary Comparison Schedule Cinema East TIF For the Period Ended September 30, 2025
CITY
INDEPENDENCE,
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
23rd & Noland Project 3 TIF For the Period Ended September 30, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
23rd & Noland Project 4 TIF For the Period Ended September 30, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Independence Square TIF For the Period Ended September 30, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule I-70 & Little Blue Parkway Project 1 TIF For the Period Ended September 30, 2025
CITY OF
INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Marketplace Project 1 TIF For the Period Ended September 30, 2025
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule Marketplace Project 2 TIF
For the Period Ended September 30, 2025
CITY OF
INDEPENDENCE, MISSOURI
CITY OF INDEPENDENCE, MISSOURI
Budgetary Comparison Schedule
TIF Supplemental Appropriation Fund For the Period Ended September 30, 2025