City Council Work Session

City Council Work Session Agenda Tuesday, January 20, 2026 at 3:00 PM Asbury City Hall, 5290 Grand Meadow Drive, Suite 1, Asbury, Iowa 52002 Page 1. Meeting Opening A. Call to Order B. Roll Call C. Citizen Input This is the time for persons to provide comment during the meeting. a. To make a public comment please use the “Chat” function for those joining via Zoom or dial star 9 (*9) from your phone. The moderator will open the lines one at a time and announce your name or phone number. b. If attending the meeting in person, please state your name and address before making your comments. c. The Mayor may limit each speaker to three minutes. The public comment agenda item is not intended as a question and answer forum. If a person has a question(s) for the Mayor or City Council, the question(s) may be submitted prior to or after the meeting in writing, or email info@cityofasbury.com or call City Hall 563-556-7106. All questions will be answered during or after the meeting in a timely fashion. 2. Suspend with the Reading and approval of the last minutes 3. General Fund - Revenue 3 - 10 Gov Reynolds property tax statement.pdf General Fund Revenue 2027.pdf General Fund Revenue Comments 2027.pdf Page 1 of 21 4. General Fund - Public Works A. PUBLIC WORKS 2027.pdf General Fund Public Works 11 - 12 Culture and Recreation and Golf Course 2027.pdf 5. General Fund - Culture and Recreation A. Culture and Recreation 2027.pdf 13 Budget FY27 DCLD.pdf FY27 Budget Letters for Cities_Asbury.pdf 14 - 15 6. Golf Course Budget A. Meadows 2027.pdf 16 - 21 7. Public Comment for New Items Not Previously Presented 8. Any Other Business 9. Adjournment Title Vi Statement - The City of Asbury receives federal funding and may not discriminate against anyone on the basis of race, color, or national origin, according to Title VI of the Civil Rights Act of 1964. For more information or to obtain a Title VI complaint form, call 563-556-7106. Page 2 of 21  OFFICE OF THE GOVERNOR Governor Kim Reynolds ★ Lt. Governor Chris Cournoyer FOR IMMEDIATE RELEASE: Wednesday, January 14, 2026 MEDIA CONTACT: Mason Mauro, (515) 745-2840, mason.mauro@governor.iowa.gov Gov. Reynolds introduces property tax reform bill projected to save taxpayers $3B over six years DES MOINES— Governor Kim Reynolds has introduced a comprehensive property tax reform bill to the Iowa House and Senate that is projected to save Iowans $3 billion over six years. Over the last two years, Iowans’ property taxes have gone up by an average of more than 10 percent, and are outpacing inflation, salaries, and the state’s population growth. In order to curb rising property taxes, Governor Reynolds is proposing to cap local government revenue growth at two percent plus new construction on all taxing authorities except debt services and school funding. “The rate at which property taxes are rising is unacceptable, and Iowans expect legislation that delivers meaningful relief to be passed this year,” Gov. Reynolds said. “Spending drives taxes, and because property taxes are driven by local government, the most reliable way to protect taxpayers is to limit local spending.” Last fall, the governor hosted roundtable meetings with local officials and community leaders across the state to discuss ways to make local government more efficient. Some local governments have formalized agreements to share the cost and operations of specific public services such as law enforcement, public health, or waste management. To encourage more communities to do the same, Gov. Reynolds is standing up a $10 million grant fund to assist local governments who choose to consolidate positions and pursue shared service agreements with neighboring cities and counties. The bill also proposes to conduct property assessments every three years instead of every two years to protect families from sharp valuation increases and create more predictability and less volatility in the market. The governor’s plan also shifts the burden of appealing large property tax increases from homeowners to assessors who will have to justify them. The bill also reforms Tax Increment Financing (TIF) districts to improve transparency and limit overuse, limiting TIF projects to public purposes for 20 years. Additionally, Gov. Reynolds’ bill creates a property tax freeze for Iowans ages 65 and older with homes valued at $350,000 or less, improving affordability for seniors living on fixed incomes. Page 3 of 21 The bill also helps young Iowans who are hoping to buy a home for the first time. FirstHome Iowa Accounts, based on Iowa’s 529 Plan, will empower families to begin saving for a home years in advance, preparing sons, daughters, and grandchildren for homeownership right here in Iowa. ### Stay Connected with the Office of the Governor of Iowa: Page 4 of 21  General Fund Revenue Budget Budget Budget YTD Actual Actual Actual Account Title FY 2027 FY 2026 Variance Actual 2025 2024 2023 001-170-4120 ZONING PERMITS (R) 2,000.00 2,000.00 - 1,125.00 2,900.00 2,170.00 2,010.00 001-170-4121 BUILDING PERMITS (R) 50,000.00 45,000.00 5,000.00 44,166.25 70,781.75 48,084.50 41,031.75 001-170-4122 ELECTRICAL PERMITS (R) 4,500.00 4,500.00 - 3,123.40 4,242.80 5,903.40 3,184.40 001-170-4123 MECHANICAL PERMITS (R) 5,000.00 5,000.00 - 3,184.00 4,903.00 5,047.00 4,181.00 001-170-4130 PLUMBING PERMITS (R) 8,000.00 8,000.00 - 2,948.00 5,082.00 7,848.65 5,244.00 001-699-4100 BEER PERMITS (R) 1,300.00 1,225.00 75.00 1,376.26 1,226.26 1,329.39 1,235.00 001-950-4105 CIGARETTE PERMITS (R) 75.00 75.00 - - - 75.00 75.00 001-299-4134 EXCAVATION PERMITS (R) 1,500.00 1,500.00 - 470.00 1,155.00 1,110.00 1,130.00 Total Permits 72,375.00 67,300.00 5,075.00 56,392.91 90,290.81 71,567.94 58,091.15 001-950-4000 PROPERTY TAXES (R) 2,254,512.00 2,184,035.00 70,477.00 1,183,998.36 2,216,846.66 2,058,328.54 2,395,791.87 001-950-4013 PROPERTY TAXES EMERGENCY (R) - - - - - - - 001-950-4080 MOBILE HOME TAXES (R) - - - - - - - 001-950-4091 PROP TAX CREDIT - COUNTY (R) - - - - - - - 001-950-4092 UTILITY TAX REPLACEMENT (R) 7,339.00 7,339.00 - - - - - 001-950-4093 PERSONAL PROP TAX REPLAC (R) - - - - - - - Total Property Taxes 2,261,851.00 2,191,374.00 70,477.00 1,183,998.36 2,216,846.66 2,058,328.54 2,395,791.87 001-950-4160 FRANCHISE FEE MEDIACOM (R) 30,000.00 35,500.00 (5,500.00) 11,187.58 27,650.79 35,774.75 39,025.06 001-950-4161 FRANCHISE FEE ELECTRIC (R) 42,000.00 42,000.00 - 24,844.39 41,276.93 46,816.72 41,525.72 001-950-4162 FRANCHISE FEE GAS (R) 16,000.00 20,000.00 (4,000.00) 3,292.84 16,357.54 12,436.27 24,993.07 001-950-4163 FRANCHISE FEE COMELEC (R) - 10,000.00 (10,000.00) - - - - Total Franchise Fees 88,000.00 107,500.00 (19,500.00) 39,324.81 85,285.26 95,027.74 105,543.85 001-950-4300 INTEREST-GENERAL-CHECKING ACCT (R) 185,000.00 185,000.00 - 108,517.28 217,114.72 205,785.96 138,815.58 001-950-4301 INTEREST-PURCHASE CARD (R) - - - (69.26) (553.20) (65.42) 54.27 001-950-4302 INTEREST-ROAD-CHECKING ACCT (R) - - - - - - - 001-950-4305 INTEREST-GEN FUND PUBLIC RESRV (R) - - - - - - - 001-410-4310 LIBRARY RENT (R) 20,216.00 19,627.00 589.00 9,303.06 18,064.20 17,538.00 17,022.00 Total Interest and Rent 205,216.00 204,627.00 589.00 117,751.08 234,625.72 223,258.54 155,891.85 001-110-4400 GRANT-STEP (R) 1,000.00 5,000.00 (4,000.00) 562.55 1,125.10 3,379.49 5,897.70 001-199-4465 County E911 Reim Water Tower (R) 5,000.00 - 5,000.00 - 25,000.00 - - Total Grants and Reim 6,000.00 5,000.00 1,000.00 562.55 26,125.10 3,379.49 5,897.70 001-430-4500 PAVILION FEES (R) 8,000.00 7,500.00 500.00 2,150.00 8,305.00 7,055.00 8,650.00 001-110-4765 FINES (R) 5,000.00 5,000.00 - 1,442.93 4,015.93 4,784.09 4,851.82 001-110-4799 POLICE EQUIPMENT REIM (R) - - - - 35.20 - - 001-950-4706 DONATIONS-PRIVATE (R) - - - - - - - 001-950-4735 FUEL & SALES TAX REFUNDS (R) - - - - - - 2,381.39 001-950-4799 MISC (R) 5,500.00 5,500.00 - 1,652.89 8,027.63 8,403.34 12,226.99 Total Miscellaneous 10,500.00 10,500.00 - 3,095.82 12,078.76 13,187.43 19,460.20 Page 5 of 21  001-950-4810 SALE OF PROPERTY (R) - - - - - - - 001-950-4831 TRANSFER IN FROM GENL RESE (R) - 80,000.00 (80,000.00) - - - - 001-950-4832 TRANSFER IN FROM SEWER UTILITY (R) - - - - - - - 001-950-4833 TRANSFER IN FROM OPTION TAX (R) 450,000.00 450,000.00 - 228,110.47 488,192.27 429,913.61 465,882.90 001-950-4835 TRANSFER IN FROM EMERGENCY FD (R) - - - - - - - 001-950-4836 TRANSFER FROM EMPLOYEE BENEFIT (R) 54,892.00 57,000.00 (2,108.00) - - - - Total Transfers 504,892.00 587,000.00 (82,108.00) 228,110.47 488,192.27 429,913.61 465,882.90 Total General Fund 3,156,834.00 3,180,801.00 (23,967.00) 1,631,386.00 3,161,749.58 2,901,718.29 3,215,209.52 003-950-4830 TRANSFER IN FROM GENERAL FUND (R) 400,000.00 413,600.00 (13,600.00) - 311,100.00 300,100.00 258,800.00 3,556,834.00 3,594,401.00 (37,567.00) 1,631,386.00 3,472,849.58 3,201,818.29 3,474,009.52 Page 6 of 21 General Fund Revenue: Property Taxes: Where do they go? The City’s share of your property tax bill is approximately 29%. If you pay $4,000 in property taxes, approximately $1,160 goes to the city and the remaining $2,840 goes to schools, the county and other entities. There are three factors that weigh into the calculation of property taxes. The first is property valuation which is set by the Dubuque County Assessor. The second is rollback which is set by the state. The third is the property tax rate which is set by the local authority. $8.10 cap is now lower and has been renamed the Consolidated General Fund Levy (CGFL) which is intended to be recalculated on an annual basis based on property valuation. The City’s current CGFL rate is $7.78622. In addition to the CGFL calculation, the rollback for residential property has decreased from 47.43% to 44.5345%; multi residential property is now in the same class rate as residential property; commercial property rollback remains unchanged at 90%; however, the first $150,000 in commercial property will receive a rollback reduction equal to the residential rollback. When the rollback decreases the amount of the taxable valuation decreases. The reason for the sharp reduction in the roll back is because overall assessed valuations increased. 14 Page 7 of 21 The City of Asbury was penalized 2% with our growth rate for calculating property tax revenue for FY 2027. The City had 5.27% taxable growth and with the current formula is allowed only 3.21% revenue growth. The overall growth in the property tax levy is $70,337. Fiscal Year 2027 budget is being prepared with a proposed property tax rate of $8.31321 compared to last year at $8.99977 per thousand. The Combined General Fund Levy (CGFL) is $7.39819. The Debt Service Levy is $.73477. Tax rate history: FY 2027 $8.31 FY 2026 $8.99 FY 2025 $8.99 FY 2024 $9.30 FY 2023 $9.00 FY 2022 $9.50 FY 2021 $9.57 FY 2020 $10.00 FY 2019 $10.00 FY 2018 $10.75 FY 2017 $10.50 FY 2016 $10.30 FY 2015 $10.30 Rollback: FY 2027 Residential Roll Back is 44.5345% in comparison to FY 2026 Residential Roll back 47.43%; For a property valued at $100,000 the taxable portion in FY 2027 is $44,535 in comparison to FY 2026 is 47,430. The City share of property taxes collected in FY 2027 is $370.13 and the property taxes collected in FY 2026 is $427.35. This is a decrease of $57.22 due to the rollback and limitations from HF 718. In addition, the multi residential category has been eliminated and multi residential property taxes are the same as any residential property. FY 27 FY 26 Property Tax Levy $7.39819 $7.78622 ($.38803) Debt Service Levy $0.73477 $1.01106 ($.27629) Employee Benefits $0.18025 $0.19643 ($0.01618) Total Levy $8.31321 $8.99371 ($.68050) 15 Page 8 of 21 Property Tax Legislation Governor Reynolds and the Republican Party continue to push for property tax reform for cities and counties. The news release issue on January 14, 2026 focuses on: 1. Cities sharing the cost and operations of services such as law enforcement, public health and waste management. 2. Reform TIF districts to improve transparency and limit overuse, limiting TIF project to public purposes for 20 years. 3. Freeze property taxes for Iowans ages 65 and older with homes valued at $350,000 or less, improving affordability for seniors living on fixed incomes. 4. Establishing First Home Iowa Accounts for first time home buyers. How does this proposal impact the City of Asbury? At first glance, Asbury is the poster child for sharing services. The City current operations include: 1. 28E agreement with Dubuque County and City of Dubuque for Law Enforcement 2. Volunteer Fire Department. 3. Contract with East Central Intergovernmental Association (ECIA) for Building Inspection Services. 4. 28E agreement with the Dubuque County Library District for Library Services. 5. Agreement with Dittmer Recycling for weekly refuse and recycling. 6. Agreement with Dubuque Soil and Water Conservation District for MS4 Permit compliance. 7. Contract with RAD for city mowing services. 8. Contract with EOCENE for natural area maintenance. Public Safety: The largest portion of general fund spending is the police and fire department. As the City grows the city may face more pressure to increase police staffing and the volunteer fire department would move to having more paid staff. Our police department is staffed at a ratio of one officer per 1,000 people and is not staffed 24/7. Public Works: Does the city consider? 1. Reducing the number streetlights? 2. Modifying the policy of when snow plows are dispatched to reduce snow removal costs. Culture and Recreation: Does the city consider? 1. Ending the contract with the Dubuque Community Library District for library service. 16 Page 9 of 21  2. Reduce maintenance in the city parks and trails by closing bathrooms, mowing every other week instead of every week. General Government: 1. Reduce building and maintenance services at City Hall. 2. Increase employee health insurance contributions. Because of the timing of the legislative session and the budget deadline, I anticipate that any of the proposed changes will impact city budgets FY 28 and beyond. For TIF. TIF is proposed to be limited to public purpose projects (water, sewer, roads, stormwater, sidewalks), then the governor has effectively eliminated the TIF incentive to offer developers for economic development in communities except for infrastructure in new residential or commercial developments. Freezing property taxes on 65 and older and homes valued at $385,000. Based on the US Census Quick Facts: 1. 13% of the population is age 65 and over. 2. 55% of the population is over 18 and under 65. 3. Median value of housing is $312,400. We would need additional details for calculate the effect moving forward if property taxes were frozen for property owners age 65 and older. 17 Page 10 of 21  Public Works Budget Budget Budget YTD Actual Actual Actual Account Title FY 2027 FY 2026 Variance Actual 2025 2024 2023 001-210-6010 WAGES-PUBLIC WORKS (GENERAL) (E) 145,500.00 140,000.00 5,500.00 71,343.26 114,917.09 109,249.18 109,309.04 001-210-6110 FICA-PUBLIC WORKS (GENERAL) (E) 11,200.00 11,152.00 48.00 5,221.25 8,389.94 8,040.26 8,089.55 001-210-6130 IPERS-PUBLIC WORKS (GENERAL) (E) 14,000.00 13,336.00 664.00 6,734.79 10,848.19 10,313.13 10,318.92 001-210-6150 HEALTH INS - CITY SHARE (E) - - - (459.92) - - - 001-210-6170 UNEMPLOYMENT-PUBLIC WKS (GEN) (E) 900.00 900.00 - 141.05 239.17 455.61 591.73 Total Wages 171,600.00 165,388.00 6,212.00 82,980.43 134,394.39 128,058.18 128,309.24 001-211-6320 SUPPLIES/TOOLS-ADM/MAINT (E) 3,500.00 3,000.00 500.00 2,472.55 2,108.68 2,618.93 1,975.26 001-211-6371 UTILITIES-MAINT.BLDG PROPANE (E) 7,000.00 7,000.00 - 2,928.72 6,445.42 5,435.19 5,048.68 001-211-6373 TELEPHONE-MAINT BLDG (E) 2,500.00 2,500.00 - 1,363.76 2,580.44 2,313.11 2,473.10 001-211-6407 CONSULTING FEE (E) 4,000.00 1,200.00 2,800.00 3,750.00 203.64 244.64 330.35 001-211-6419 GIS SOFTWARE (E) 6,500.00 6,500.00 - 5,324.80 4,004.99 5,647.36 770.00 001-211-6490 INFORMATION TECHNOLOGY (E) 3,000.00 3,000.00 - 2,260.13 1,423.17 - - 001-211-6499 CONTRACT WORK (E) 500.00 500.00 - 235.44 786.78 887.76 554.85 Total General Public Works 27,000.00 23,700.00 3,300.00 18,335.40 17,553.12 17,146.99 11,152.24 001-212-6350 MAINT AND REPAIR VEHICLES 7,000.00 3,000.00 4,000.00 1,988.43 4,509.60 828.94 234.58 001-212-6352 FUEL 5,000.00 5,000.00 - (5,860.60) 4,973.19 4,830.39 6,413.42 001-212-6353 FORD TRACTOR-MAIN/REPAIR (E) - 3,000.00 (3,000.00) 1,854.00 - - - 001-212-6354 MOWER MAINT AND REPAIR (E) - 1,000.00 (1,000.00) - - - 1,030.93 Total Vehicles 12,000.00 12,000.00 - (2,018.17) 9,482.79 5,659.33 7,678.93 001-230-6371 STREET LIGHTING (E) 61,775.00 58,830.00 2,945.00 23,355.18 44,196.85 45,719.15 46,492.39 001-230-6505 STREET LIGHTING-MISC (E) 8,000.00 8,000.00 - (676.78) 11,688.74 4,172.66 15,725.41 Total Streetlighting 69,775.00 66,830.00 2,945.00 22,678.40 55,885.59 49,891.81 62,217.80 001-250-6331 FUEL (E) 16,000.00 16,000.00 - 3,193.49 7,635.77 7,259.64 14,453.24 001-250-6350 REPAIR MAINT/SNOW EQUIP (E) 35,000.00 35,000.00 - 27,200.80 26,921.01 24,511.84 34,348.23 001-250-6408 INSURANCE-SNOW/ICE (E) 17,000.00 16,000.00 1,000.00 16,206.41 15,737.42 14,216.74 10,372.75 001-250-6499 MISC CONTRACT WORK (E) 2,000.00 2,000.00 - 102.00 194.00 - 42.00 001-250-6505 MISCELLANEOUS EXPENSE (E) 77,500.00 77,500.00 - 968.00 28,696.66 72,436.64 24,560.57 001-250-6726 CAPITAL EQUIPMENT (E) - - - - - - - 001-250-6727 CAPITAL EQUIPMENT-SNOW/ICE (E) - - - - - - - Total Snow Removal 147,500.00 146,500.00 1,000.00 47,670.70 79,184.86 118,424.86 83,776.79 Total Public Works 427,875.00 414,418.00 13,457.00 169,646.76 296,500.75 319,181.17 293,135.00 Page 11 of 21 Public Works: Overall budget increase $13,457.  Most line items are holding steady this year. Wages and Benefits increase $6,212.  Consulting fee increased $2,800 for Daupler Services.  Street lighting increase $3,000 for proposed increase in utility rates. Culture and Recreation: Overall budget decrease of $4,000. Library - The library costs proposed by the Dubuque County Library District will not increase FY 27 and will remain at $37.50 per capita. Total library assessment is $222,863. Attached to the agenda is a letter from Laura Sauser Library Director of the Dubuque Library District outlining the request and a copy of the FY 2027 Budget. The library is self-funding the increase this year using their reserves. Parks and Recreation – Park decrease is $4,000.  Wages and benefits increase $2,200.  $50,000 for Capital Improvements was reallocated to Consultant fees for Study for Recreation Center. Golf Course – Revenue increase $90,700 Expenditure increase $68,625. Pro Shop Revenue remains stable. Shop Salary and Benefits increase $8,000 Bar Revenue remains stable Twila’s Salary was reallocated to the category of Salary Full Time. Health insurance is increased $15,350 to budget for family health insurance for replacement of retiring employee Other expenses remain stable Greens Golfing Revenue increased $99,450. Salaries and benefits increased $19,000 19 Page 12 of 21  Culture and Recreation Budget Budget Budget YTD Actual Actual Actual Account Title FY 2027 FY 2026 Variance Actual 2025 2024 2023 001-410-6310 BLDG - MAINT & REPAIR (E) 8,800.00 8,800.00 - 1,720.47 4,737.33 6,885.56 8,172.39 001-410-6371 LIBRARY-UTILITIES (E) 8,325.00 8,325.00 - 4,381.85 7,253.95 6,525.56 6,152.08 001-410-6499 LIBRARY PAYMENT (E) 222,863.00 222,863.00 - 111,431.25 213,948.00 205,033.50 199,090.50 Total Library 239,988.00 239,988.00 - 117,533.57 225,939.28 218,444.62 213,414.97 001-430-6010 WAGES-CULTURE & RECREATION (E) 83,000.00 79,680.00 3,320.00 35,743.14 49,002.70 57,531.60 61,369.91 001-430-6110 FICA - CULTURE AND RECREATION (E) 6,400.00 6,564.00 (164.00) 2,607.03 3,578.24 4,213.98 4,348.42 001-430-6130 IPERS - CULTURE & RECREATION (E) 7,800.00 7,760.00 40.00 3,374.24 4,625.96 5,430.95 5,793.22 001-430-6150 HEALTH INS - CITY SHARE (E) - - - (232.78) - - - 001-430-6170 UNEMPLOYMENT - CULTURE & RECRE (E) - 1,000.00 (1,000.00) 73.22 115.18 279.59 537.91 001-430-6240 TRAVEL & CONFERENCES (E) - - - - - - - Total Park Salaries 97,200.00 95,004.00 2,196.00 41,564.85 57,322.08 67,456.12 72,049.46 001-430-6320 BLDG & GROUNDS-MAINT/PARK (E) 19,750.00 19,750.00 - 6,269.58 17,212.45 17,714.66 25,836.32 001-430-6321 TREE REMOVAL (E) 4,500.00 4,500.00 - 1,625.00 - 960.00 1,035.00 001-430-6350 MOWER MAINT EQUIPMENT (E) 1,000.00 1,000.00 - 17.97 - 104.97 1,454.92 001-430-6371 UTILITIES - PARK (E) 7,900.00 7,515.00 385.00 3,543.40 6,510.06 5,007.41 5,519.78 001-430-6407 TRAIL - CONSULTANT FEES (E) 50,000.00 2,500.00 47,500.00 18,010.00 17,042.50 2,000.00 2,171.23 001-430-6409 JANITORIAL (E) 9,500.00 9,000.00 500.00 7,286.25 8,784.75 6,672.00 6,594.25 001-430-6499 MISC CONTRACT WORK (E) 66,120.00 62,250.00 3,870.00 38,768.24 64,220.40 78,844.44 37,692.50 001-430-6505 MISC (E) 2,000.00 2,000.00 - - 201.75 35.92 (244.33) 001-430-6726 CAPITAL EQUIPMENT (E) - 50,000.00 (50,000.00) - - 14,382.69 44,114.00 001-440-6499 MISC CONTRACT WORK (E) - 8,500.00 (8,500.00) - 7,500.00 7,500.00 7,500.00 Total Park Operating 160,770.00 167,015.00 (6,245.00) 75,520.44 121,471.91 133,222.09 131,673.67 Total Park 257,970.00 262,019.00 (4,049.00) 117,085.29 178,793.99 200,678.21 203,723.13 Total Culture and Recreation 497,958.00 502,007.00 (4,049.00) 234,618.86 404,733.27 419,122.83 417,138.10 Page 13 of 21 DUBUQUE COUNTY LIBRARY DISTRICT FY 2027 BUDGET REVENUE/INCOME COUNTY INCOME $728,737.50 PHOTOCOPY/FAX FEES $2,400.00 OTHER FINES AND FORFEITURES $1,000.00 CITIES INCOME $449,850.00 ENRICH IOWA/DIRECT STATE AID $20,000.00 LIBRARY AGENCY FUNDS $2,750.00 DONATIONS $2,250.00 DONATIONS-McDonough Foundation Grant $0.00 MISC REIMBURSEMENTS $1,000.00 Total Revenue $1,207,987.50 EXPENDITURES Salaries/Benefits SALARIES OF REGULAR EMPLOYEES $508,000.00 WAGES OF TEMP & PART-TIME EMPLOYEES $165,000.00 OVERTIME & SHIFT PAY $2,000.00 FICA-LIBRARY CONTRIBUTION $52,000.00 IPERS-LIBRARY CONTRIBUTION $64,000.00 EMP GROUP INSURANCE $108,000.00 Total Salaries/Benefits $899,000.00 Operations STATIONARY/FORMS/GEN OFFICE SUPPLIES $11,000.00 LIBRARY MATERIALS $165,000.00 OFFICIAL PUBLICATIONS & LEGAL NOTICES $75.00 PRINTING AND BINDING $2,000.00 PHOTOCOPYING & DUPLICATING SERV $2,500.00 POSTAGE & MAILING $1,000.00 EMPLOYEE MILEAGE & SUBSISTENCE $4,500.00 TELEPHONE $5,000.00 INTERNET SERVICE (includes hotspots) $11,000.00 EDUCATIONAL & TRAINING SERVICE $3,500.00 PLANNING & MANAGEMENT CONSULTANT $11,000.00 STAFFING AND FEES -- PEOSTA/NICC BRANCH $33,370.00 ELECTRIC POWER (Asbury only) $3,000.00 VEHICLE MAINTENANCE & REPAIR $5,000.00 FUELS $2,000.00 BLDG REPAIR/MAINTENANCE $3,600.00 OFFICE/DATA PROC EQPT REPAIR/MT $4,000.00 BLDG RENT (Asbury office space only) $19,700.00 CYBERSECURITY INSURANCE $1,200.00 GENERAL LIABILITY INSURANCE $2,600.00 REAL PROPERTY INSURANCE $4,100.00 WORKER'S COMPENSATION INSURANCE $1,250.00 DUES & MEMBERSHIP $600.00 OTHER SERVICES/PROGRAMMING & SUPPLIES $27,350.00 MARKETING/OUTREACH $5,650.00 INFORMATION TECHNOLOGY--HARDWARE $20,000.00 INFORMATION TECHNOLOGY--SOFTWARE $46,000.00 OFFICE EQUIPMENT & FURNITURE $37,300.00 Total Operations $433,295.00 TOTAL EXPENDITURES $1,332,295.00 Fund Balance (as of November 2025) $890,776.86 Excess of Revenues Over Expenditures ($124,307.50) Fund Balance-Restricted (Cash Reserves) ($294,646.88) Page 14 of 21 Total Fund Balance $471,822.49 December 29, 2025 Elizabeth Bonz, City Administrator City of Asbury 5290 Grand Meadow Dr. Asbury, Iowa 52002 Dear Beth, Enclosed is a copy of the Library’s FY2027 budget, adopted by the Board of Trustees at a public hearing on December 16, 2025. There is no change in the assessment for FY27. It remains $222,862.50, which will be billed in equal halves in July 2026 and February 2027. However, there is a $.75 per capita increase (from $37.50 to $38.25) which is being self-funded by the library this year. The library has built up a cash balance due to salary savings and larger projects that did not come to fruition, and we are using that money to provide you with some budget relief. Please note that because the per capita rate was increased, future increases will be based on the $38.25 figure. The Trustees and I are glad to discuss the budget with you and/or the Asbury City Council at your convenience. Should you have any questions, I may be reached at the number below or via email at lauras@dubcolib.org Sincerely, Laura Sauser Library Director Asbury Branch 5290 Grand Meadow Dr. Asbury, IA 52002 | [p] 563-582-0008 | [f] 563-582-0022 Page 15 of 21  Golf Course Budget Budget Budget Budget Actual Actual Actual Account Title FY 2027 FY 2026 Variance YTD Actual FY 2025 FY 2024 FY 2023 Pro Shop Revenue 005-442-4500 CREDIT CARD FEE (R) 20,000.00 20,000.00 - 10,087.32 18,403.90 - - 005-442-4750 Mens Wear (R) 19,500.00 20,000.00 (500.00) 11,888.53 19,629.01 20,252.33 20,250.73 005-442-4751 Ladies Wear (R) 1,500.00 1,750.00 (250.00) 937.56 1,628.62 1,718.35 1,366.92 005-442-4752 Balls (R) 25,000.00 25,000.00 - 14,230.66 26,661.57 22,757.27 19,938.66 005-442-4753 Gloves (R) 4,000.00 5,000.00 (1,000.00) 2,316.75 4,200.62 5,305.35 4,328.84 005-442-4754 Clubs (R) 13,500.00 7,500.00 6,000.00 6,027.95 13,661.74 5,624.26 9,233.18 005-442-4755 Shoes (R) 4,000.00 4,000.00 - 2,504.27 4,003.42 3,739.80 3,945.73 005-442-4756 Golf Bags (R) 1,500.00 2,000.00 (500.00) 563.50 881.23 2,365.98 2,039.97 005-442-4757 Accessories (R) 8,000.00 8,000.00 - 4,800.42 9,104.59 11,488.77 6,187.38 005-442-4771 MISC (R) - - - - - - - 005-442-4772 SPECIAL ORDER REVENUE (R) 25,000.00 40,000.00 (15,000.00) 11,412.58 24,662.16 51,143.83 15,532.06 Pro Shop Revenue 122,000.00 133,250.00 (11,250.00) 64,769.54 122,836.86 124,395.94 82,823.47 Page 16 of 21  Pro Shop Expense 005-442-6010 Salaries Regular Full Time (E) 165,133.00 155,854.00 9,279.00 86,828.95 145,146.29 139,821.34 134,978.50 005-442-6030 Salaries - Temporary Seasonal (E) 55,000.00 55,000.00 - 34,571.15 51,813.79 47,765.61 40,699.26 005-442-6110 FICA and Medicare (E) 17,000.00 16,200.00 800.00 9,177.20 15,047.57 14,217.31 13,331.22 005-442-6130 IPERS (E) 17,000.00 20,000.00 (3,000.00) 8,493.66 14,729.15 13,846.28 12,880.63 005-442-6150 Group Insurance (E) 14,500.00 13,286.00 1,214.00 6,927.53 6,119.65 11,442.15 11,742.76 005-442-6170 Unemployment Insurance (E) 1,000.00 1,500.00 (500.00) 317.92 682.86 985.43 1,666.33 005-442-6181 Uniforms (E) 1,000.00 1,000.00 - - - 544.56 - 005-442-6210 Dues and Licenses (E) 2,500.00 2,500.00 - 1,025.00 1,550.75 1,972.33 1,253.25 005-442-6230 Training (E) - - - - - - 60.00 005-442-6240 Meetings & Conferences (E) 1,000.00 250.00 750.00 - - 120.00 35.00 005-442-6310 Building Maint & Repair (E) 3,500.00 500.00 3,000.00 1,133.37 3,619.65 517.47 329.81 005-442-6320 Grounds Maintenace & Repair (E) - - - - - - - 005-442-6340 Office Equipment & Repair (E) 500.00 250.00 250.00 2,423.85 291.10 79.37 334.44 005-442-6350 Operational Equipment & repair (E) 1,500.00 1,500.00 - 109.99 737.50 92.50 211.24 005-442-6371 Utilities - Gas & Electric (E) 12,250.00 12,200.00 50.00 7,500.37 11,390.15 10,578.39 7,668.22 005-442-6373 Telephone / Internet (E) 1,200.00 1,200.00 - 637.80 1,154.13 1,083.42 1,907.49 005-442-6401 Accounting & Auditing (E) 18,500.00 20,000.00 (1,500.00) 3,904.80 18,468.73 15,395.62 3,550.40 005-442-6402 Advertising (E) 13,000.00 13,000.00 - - 19,802.17 13,461.17 12,240.00 005-442-6404 Credit Card Fees (E) 31,000.00 31,000.00 - 16,302.35 29,894.29 30,931.73 28,481.01 005-442-6407 CONSULTING (E) 1,000.00 1,000.00 - - 676.80 498.78 1,096.34 005-442-6408 Insurance (E) 13,000.00 12,000.00 1,000.00 6,686.47 11,536.80 9,557.40 6,966.98 005-442-6415 Rent & Lease Equipment (E) - - - - - 87.31 - 005-442-6490 INFORMATION TECHNOLOGY (E) 3,500.00 5,000.00 (1,500.00) 5,080.58 2,500.57 2,301.05 1,108.35 005-442-6499 Contractual Services (E) - - - - 25.00 - - 005-442-6506 Office Supplies (E) 1,500.00 1,500.00 - 638.80 261.70 1,333.30 734.58 005-442-6507 Operating Supplies (E) 3,500.00 3,500.00 - 309.94 3,981.38 3,589.35 609.00 005-442-6508 Postage (E) - - - - - 163.58 - 005-442-6509 Laundry Expense (E) 1,000.00 1,000.00 - 270.86 852.44 858.92 207.72 005-442-6511 Mens Wear (E) 15,000.00 15,000.00 - 2,627.74 9,170.16 23,020.85 15,296.79 005-442-6512 Ladies Wear (E) 1,000.00 1,000.00 - - 95.67 3,403.55 891.53 005-442-6513 Balls (E) 20,000.00 15,000.00 5,000.00 2,099.21 23,639.32 20,694.12 16,047.17 005-442-6514 Gloves (E) 3,000.00 2,000.00 1,000.00 - 1,002.00 1,211.28 3,723.69 005-442-6515 Clubs (E) 10,000.00 10,000.00 - (120.00) 23,546.75 13,071.73 16,781.76 005-442-6516 Club Repair (E) - - - - - - - 005-442-6517 Shoes (E) 3,000.00 3,250.00 (250.00) 116.90 62.66 7,453.69 6,221.97 005-442-6518 Golf Bags (E) 1,000.00 1,000.00 - 43.95 1,630.94 2,609.75 1,989.46 005-442-6519 Accessories (E) 7,500.00 5,000.00 2,500.00 577.32 4,474.68 5,306.37 9,922.81 005-442-6520 Shipping (E) 500.00 500.00 - 240.89 111.62 527.28 282.88 005-442-6521 Misc (E) 50.00 500.00 (450.00) - - - 305.97 005-442-6522 Event Expense (E) 500.00 500.00 - 3,375.00 - - - 005-442-6524 Handicap Fee (E) 2,500.00 2,000.00 500.00 50.00 2,432.00 1,735.00 2,052.00 005-442-6525 SPECIAL ORDERS (E) 20,000.00 30,000.00 (10,000.00) 8,619.50 17,362.38 41,143.66 12,154.68 005-442-6599 Misc (E) - 500.00 (500.00) - - - - Page 17 of 21 Pro Shop Expense 463,133.00 455,490.00 7,643.00 209,971.10 423,810.65 441,421.65 367,763.24 -  Bar Revenue 005-443-4522 DOWNSTAIRS HALL RENTAL (R) 4,000.00 2,000.00 2,000.00 2,175.00 3,900.00 1,750.00 - 005-443-4760 Can Beer (R) 181,500.00 180,000.00 1,500.00 97,652.71 175,962.96 178,944.78 133,989.77 005-443-4761 Tap Beer (R) 21,500.00 22,500.00 (1,000.00) 10,260.05 22,549.50 22,427.50 12,729.43 005-443-4762 Mixed Drinks (R) 72,500.00 63,500.00 9,000.00 38,269.50 71,825.50 61,339.50 48,635.75 005-443-4763 Wine/Wine Coolers (R) 1,500.00 1,250.00 250.00 620.00 1,876.00 810.00 75.00 005-443-4764 Can Pop (R) 28,500.00 27,500.00 1,000.00 18,979.00 27,826.96 27,399.25 25,051.25 005-443-4765 Fountain Pop (R) 5,000.00 4,250.00 750.00 2,732.00 5,148.33 3,904.00 2,634.00 005-443-4766 Employee Lunch (R) 4,500.00 5,000.00 (500.00) 2,069.00 5,594.00 5,981.00 2,583.00 005-443-4767 Sandwiches (R) 50,000.00 53,000.00 (3,000.00) 27,292.20 50,732.70 53,216.55 30,783.95 005-443-4768 Appetizers (R) 15,000.00 17,000.00 (2,000.00) 7,172.65 16,547.00 16,237.50 10,172.00 005-443-4769 Soup (R) 2,000.00 3,500.00 (1,500.00) 1,594.00 3,270.00 2,552.00 - 005-443-4770 Snacks (R) 4,500.00 4,000.00 500.00 2,704.50 4,229.00 4,047.00 4,524.75 005-443-4771 SALAD (R) 1,000.00 1,750.00 (750.00) 390.00 1,428.00 1,480.50 507.00 005-443-4772 PIZZA (R) 8,500.00 8,500.00 - 3,390.00 9,119.00 8,285.50 2,685.00 005-443-4773 FISH FRY (R) - 4,000.00 (4,000.00) - 635.59 3,942.13 - 005-443-4774 Coffee (R) 250.00 - 250.00 87.50 184.00 - - 005-443-4775 Food (R) 18,500.00 26,000.00 (7,500.00) 14,207.40 20,113.80 22,272.69 15,644.93 005-443-4776 Banquet Events (R) 7,500.00 - 7,500.00 6,572.00 6,726.00 675.00 - 005-443-4778 Special (R) - - - - - - 925.00 Total Bar Revenue 426,250.00 423,750.00 2,500.00 236,167.51 427,668.34 415,264.90 290,940.83 Page 18 of 21  Bar Expense 005-443-6010 Salaries - Regular Full Time (E) 59,000.00 6,563.00 52,437.00 31,923.49 20,157.28 4,365.04 5,342.71 005-443-6020 Salaries - Regular Part Time (E) - 49,000.00 (49,000.00) - 47,220.80 49,101.13 42,798.29 005-443-6030 Salaries - Temporary Seasonal (E) 57,500.00 57,500.00 - 17,885.84 47,125.19 39,573.59 14,613.67 005-443-6110 FICA & Medicare (E) 9,000.00 9,000.00 - 5,389.86 11,485.55 9,677.54 5,989.87 005-443-6150 Group Insurance (E) 27,000.00 11,650.00 15,350.00 5,437.09 12,909.28 9,938.29 9,300.39 005-443-6170 Unemployment Insurance (E) 1,000.00 1,000.00 - 200.83 488.04 827.28 643.53 005-443-6181 Uniforms (E) 500.00 500.00 - - 14.45 544.56 - 005-443-6199 GRATUITY (E) (10,000.00) (8,000.00) (2,000.00) (8,186.47) (10,653.89) (7,902.85) - 005-443-6210 Dues and Licenses (E) 2,000.00 2,000.00 - 1,170.00 1,680.00 1,630.00 2,317.00 005-443-6230 Training (E) - - - - 284.00 - - 005-443-6240 Meetings and Conferences (E) 500.00 - 500.00 - - - - 005-443-6310 Building Maintenance & Repair (E) 3,000.00 2,000.00 1,000.00 1,154.27 3,882.78 1,724.13 554.81 005-443-6340 Office Equipment & Repair (E) - - - 279.98 - - - 005-443-6350 Operation Equipment Repair (E) 6,000.00 5,000.00 1,000.00 513.46 1,770.78 3,043.97 1,142.79 005-443-6371 Utilities - Gas & Electric (E) 12,750.00 12,100.00 650.00 8,253.49 11,259.40 10,578.32 6,766.34 005-443-6373 Telephone/Internet (E) 3,750.00 2,500.00 1,250.00 2,208.30 3,586.98 2,499.24 1,497.69 005-443-6379 Other Utility (E) - 1,000.00 (1,000.00) - - 952.26 - 005-443-6401 Accounting & Auditing (E) - - - - - - - 005-443-6402 Advertising (E) - - - - - - - 005-443-6407 Consultant Fee (E) - 100.00 (100.00) - 142.42 107.76 107.76 005-443-6408 Insurance (E) 10,500.00 8,500.00 2,000.00 5,514.63 10,249.55 8,078.21 5,424.66 005-443-6409 JANITORIAL (E) 12,000.00 10,000.00 2,000.00 6,736.00 12,081.20 8,408.39 3,520.00 005-443-6490 INFORMATION TECHNOLOGY (E) 2,000.00 2,000.00 - 1,157.06 881.58 472.70 380.58 005-443-6499 Other Contractual Services (E) - - - - 25.00 50.00 - 005-443-6506 Office Supplies (E) 250.00 250.00 - 47.45 32.02 272.03 191.78 005-443-6507 Operating Supplies (E) 16,500.00 15,000.00 1,500.00 7,189.69 16,386.20 16,200.94 14,991.01 005-443-6508 Postage (E) - - - - - - - 005-443-6509 Laundry Expense (E) 5,250.00 5,250.00 - 3,605.43 5,166.31 5,134.08 1,885.75 005-443-6521 Can Beer (E) 54,000.00 54,000.00 - 23,560.67 52,901.12 52,849.34 40,663.16 005-443-6522 Tap Beer (E) 6,000.00 6,000.00 - 2,011.00 6,159.00 5,777.72 7,780.87 005-443-6523 Mixed Drinks (E) 15,000.00 12,000.00 3,000.00 8,277.32 14,724.51 11,515.66 9,838.03 005-443-6524 Wine/Wine Coolers (E) 750.00 500.00 250.00 343.80 - 999.30 1,087.60 005-443-6525 Can Pop (E) 8,500.00 8,250.00 250.00 5,485.41 8,172.72 8,232.50 8,081.07 005-443-6526 Fountain Pop (E) 4,750.00 4,500.00 250.00 1,711.28 5,148.96 4,448.87 3,474.88 005-443-6527 Coffee (E) 200.00 - 200.00 - 191.66 - - 005-443-6528 Sandwiches (E) 34,000.00 38,000.00 (4,000.00) 20,556.41 33,541.21 37,726.76 24,433.93 005-443-6529 Appetizers (E) 11,000.00 10,250.00 750.00 4,006.52 11,563.59 10,125.40 7,556.93 005-443-6530 Soup (E) 250.00 250.00 - 58.47 - 113.07 46.55 005-443-6531 Snacks (E) 5,500.00 3,500.00 2,000.00 2,033.71 5,398.39 3,578.15 2,763.18 005-443-6532 Misc (E) 500.00 500.00 - - 522.22 1,473.11 89.23 005-443-6533 Beverage Cart Beer (E) - - - - - - - 005-443-6534 Beverage Cart Soft Drinks (E) - - - - - - - 005-443-6535 Beverage Cart Snacks (E) - - - - - - - Page 19 of 21 005-443-6536 Food (E) 7,500.00 9,000.00 (1,500.00) 96.94 7,172.67 8,815.48 - Total Bar Expense 366,450.00 339,663.00 26,787.00 158,621.93 341,670.97 310,931.97 223,284.06  Greens Revenue 005-445-4500 Green Fees - Weekday (18) (R) 57,500.00 52,500.00 5,000.00 37,847.00 52,697.33 44,499.00 34,011.24 005-445-4501 Green Fees - Weekday (9) (R) 35,000.00 23,000.00 12,000.00 21,783.00 23,906.92 17,111.00 16,041.00 005-445-4502 Green Fees Weekend (18) (R) 250,000.00 240,000.00 10,000.00 157,292.00 233,066.45 219,788.76 139,058.76 005-445-4503 Green Fees Weekend (9) (R) 52,500.00 53,000.00 (500.00) 29,151.00 54,035.37 41,287.00 36,427.11 005-445-4504 League Fees (R) 82,500.00 68,000.00 14,500.00 31,136.00 72,328.00 64,653.00 66,842.00 005-445-4505 Junior Academy (R) 3,000.00 3,500.00 (500.00) - 2,470.00 3,551.50 2,255.00 005-445-4506 Riding Carts (R) 335,000.00 293,000.00 42,000.00 167,530.00 323,881.84 289,331.70 248,940.61 005-445-4507 Club Rental (R) 1,200.00 1,250.00 (50.00) 875.00 1,385.00 1,065.00 975.00 005-445-4508 Handicap Fee (R) 5,500.00 3,000.00 2,500.00 511.00 5,446.00 2,970.00 2,640.00 005-445-4510 Bag Storage (R) - - - - - - - 005-445-4511 Memberships (R) 195,000.00 175,000.00 20,000.00 23,190.00 190,582.00 169,447.00 154,390.00 005-445-4512 Weekday Discount Green Fee 18 (R) - - - - - - - 005-445-4513 $13 Green Fee (R) 3,000.00 3,250.00 (250.00) 1,175.00 2,921.00 2,857.50 3,147.50 005-445-4514 Tournament-Outing Fee (R) - - - 3,500.00 10.00 - 49,659.00 005-445-4515 Other Rentals (R) 750.00 1,000.00 (250.00) 350.00 678.00 1,035.00 286.00 005-445-4516 Fall Special (R) 5,000.00 7,500.00 (2,500.00) 462.00 3,855.00 10,404.00 3,156.00 005-445-4517 PARK MOWING (R) - - - - - - - 005-445-4518 SIMULATOR FEES (R) 47,500.00 50,000.00 (2,500.00) 18,769.22 44,096.78 43,988.00 2,700.00 005-445-4519 SIMULATOR LEAGUE (R) - - - - 1,920.00 - - 005-445-4735 FUEL & SALES TAX REFUNDS (R) - - - - - - 587.21 Total Greens Revenue 1,073,450.00 974,000.00 99,450.00 493,571.22 1,013,279.69 911,988.46 761,116.43 Page 20 of 21  Greens Expense 005-445-6010 Salaries - Regular Full Time (E) 193,000.00 182,805.00 10,195.00 95,369.97 178,321.59 161,741.39 150,323.41 005-445-6030 Salaries - Temporary Seasonal (E) 100,000.00 100,000.00 - 61,371.40 82,190.21 96,880.24 82,169.79 005-445-6110 FICA & Medicare (E) 23,000.00 21,500.00 1,500.00 11,604.61 20,109.03 19,101.17 17,136.78 005-445-6130 IPERS (E) 20,000.00 20,000.00 - 10,465.16 20,316.10 19,042.48 15,293.75 005-445-6150 Group Insurance (E) 54,000.00 46,000.00 8,000.00 22,038.76 44,095.08 39,633.43 33,896.69 005-445-6170 Unemployment Insurance (E) 1,500.00 2,000.00 (500.00) 371.96 1,278.68 1,341.91 1,821.51 005-445-6181 Uniforms (E) 500.00 750.00 (250.00) - 31.98 70.00 145.33 005-445-6210 Dues & Licenses (E) 1,000.00 750.00 250.00 869.41 506.50 629.41 444.41 005-445-6230 Training (E) - - - - - - - 005-445-6240 Meetings & Conferences (E) 1,000.00 750.00 250.00 - 2,171.39 733.60 200.00 005-445-6310 Building Maintenance & Repair (E) 1,000.00 1,000.00 - 303.80 179.36 881.89 2,286.46 005-445-6315 EQUIPMENT-MAINT & REPAIR (E) 22,500.00 22,500.00 - 7,367.81 22,459.67 18,016.01 20,818.26 005-445-6317 GOLF CART REPAIR (E) 1,500.00 1,000.00 500.00 109.40 885.35 2,587.18 1,467.55 005-445-6320 Grounds Maintenance & Repair (E) 4,000.00 4,000.00 - - 1,727.00 1,351.03 4,298.74 005-445-6321 IRRIGATION SYSTEM AND REPAIR (E) 8,000.00 8,000.00 - 1,418.50 3,525.49 7,634.48 2,381.45 005-445-6370 Utilities - Electric Irrigatio (E) 15,000.00 15,000.00 - 8,467.62 14,747.13 11,272.29 14,294.72 005-445-6371 Utilities - Electric (E) 4,500.00 4,250.00 250.00 1,781.71 4,431.66 4,151.44 2,027.53 005-445-6373 Telephone/Internet (E) 1,000.00 1,000.00 - 414.12 761.68 694.22 1,808.73 005-445-6379 FUEL FOR GOLF CARTS (E) 9,000.00 9,000.00 - 6,872.57 8,037.43 8,550.33 9,111.66 005-445-6394 Fertilizer (E) 26,000.00 25,000.00 1,000.00 4,887.00 52,990.20 22,415.47 18,914.40 005-445-6395 Chemicals (E) 56,000.00 55,000.00 1,000.00 20,828.61 25,923.86 53,933.48 53,315.44 005-445-6396 Top Dressing (E) 15,000.00 10,000.00 5,000.00 4,056.30 5,737.39 5,422.60 3,728.25 005-445-6397 Fuel (E) 15,000.00 16,500.00 (1,500.00) 6,938.47 13,850.42 10,338.02 19,485.83 005-445-6401 Accounting & Auditing (E) - - - - - - - 005-445-6404 Credit Card Fees (E) - - - - 131.18 - - 005-445-6408 Insurance (E) 13,000.00 12,000.00 1,000.00 7,829.72 12,936.11 10,751.40 8,396.86 005-445-6415 Rent & Lease Equipment (E) 6,000.00 5,000.00 1,000.00 3,424.02 6,524.50 3,778.40 6,846.20 005-445-6416 GOLF CAR LEASE (E) 61,000.00 61,000.00 - 25,207.20 - - - 005-445-6418 SALES TAX (E) 50,000.00 45,000.00 5,000.00 28,166.61 46,914.32 44,988.35 35,075.69 005-445-6490 INFORMATION TECHNOLOGY (E) 1,500.00 2,500.00 (1,000.00) 1,329.45 1,393.21 556.32 463.92 005-445-6506 Office Supplies (E) 500.00 500.00 - - 112.95 175.98 201.01 005-445-6507 Operating Supplies (E) 8,000.00 7,500.00 500.00 577.28 7,667.97 7,442.68 5,003.08 005-445-6509 Laundry Expense (E) - - - - - 529.97 441.20 005-445-6726 EQUIPMENT PURCHASE (E) 19,000.00 17,000.00 2,000.00 14,694.99 78,370.00 24,885.00 28,683.73 Total Greens Expense 731,500.00 697,305.00 34,195.00 346,766.45 658,327.44 579,530.17 540,482.38 005-950-4300 GOLF COURSE INTEREST (R) 8,000.00 8,000.00 - 8,334.52 9,297.68 8,082.33 2,381.87 Total Meadows Revenue 1,629,700.00 1,539,000.00 90,700.00 802,842.79 1,573,082.57 1,459,731.63 1,137,262.60 Total Meadows Expense 1,561,083.00 1,492,458.00 68,625.00 715,359.48 1,423,809.06 1,331,883.79 1,131,529.68 Net Income 68,617.00 46,542.00 22,075.00 87,483.31 149,273.51 127,847.84 5,732.92 Page 21 of 21