HomeMy WebLinkAboutBudget in Brief Presentation for FY2026Presented by:
Matt Nielson, CFO, City of Rexburg, mattn@rexburg.org
2026 Budget in Brief
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Highlights
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Total Budget: $111,279,400 up $16,870,900 from prior year amended
Operating Budget is $46,948,500
General Fund $80,900 in Contingency for unforeseen items
Revenue available for Street maintenance, reconstruction, and new construction
totals $14.1 million
1% increase in Highway User Funds over the prior year
Highlights
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Six full-time positions included in budget
Building Maintenance (1), Police (1), Emergency Services (1), Building
Inspections (1), and Golf (2).
Property Tax Revenues $7,290,000
30.8% of taxes paid living in the city come to the city
Levy rate of $313 per $100,000 of taxable value
Looking to complete Phase I of the new Park on the Teton River
$1.6 million
Airport Land Acquisition
$4.3 million-Paid 90% by FAA
Tabernacle HVAC project
$875,000
Federal grant received for $245,000
Utility Rate Changes Effective 10/1/25
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•The city is in the middle of a rate study and anticipates rate increases for
water and sewer effective 1/1/2026
Major Street Construction Projects
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Reconstruction of 1st W-Main to 1st S, 1st S-2nd W to Center, 5th W-Yellowstone to 7th S, Birch Avenue, Park Street-Pioneer to Seagull Dr, 4th W-2nd S to 6th S, 7th S-US 20 west to Summerfield (LID 54 and 55) $3,500,000
9th East River Crossing at 7th N (Federal Grant/DIF/URA) $5.5 million
Traffic Signal-7th S/Center (LHTAC Grant) $893,600
Safe Streets For All (Federal Grant) $240,000
2nd East-Safety Improvements Consulting (Federal Grant) $200,000
Misc. Seal Coat/Chip Sealing $250,000
Water/Wastewater Projects
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New Water Well Building, Booster #10 $1.1 M & water line ext. $850,000
Drill new well #11 on hill $1 Million
Sewer Headworks and Plant Upgrade (Federal dollars & reserves) $3.3 Million
Replace Gravity Fed Sewer Line & Lift Station NW side of city (Other City Contributions ($2.8 Million), reserves, and Federal dollars) $5.9 million
URA (35%) and City (65%) funded project to Extend Sewer Services and add lift station near 2nd E and Moody Dr to WWTP $4.7 million
New building extension for water department $1.16 million
Other City Projects
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Acquisition of additional property at Steiner Park near 5th West and begin
development of that park with Urban Renewal Contributions
Set aside for future municipal and/or police station ($300,000)
Election being held on November 4th for a new police station facility bond for
$16.75 million
From reserve plan to purchase property in the downtown area with other
community partners for gatherings and events and a future municipal building
Total Expense Budget
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Departments Amount Percent
Public Works $51.3 M 46%
Administrative $ 7.2 M 7%
Building Safety $ 1.4 M 1%
Parks, Rec, Golf,
Cultural Arts $ 10.1M 9%
Police, Fire, Amb $17.5 M 16%
Transfers $23.8 M 21%
Total $111.3M 100%
Total Revenue Budget
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General Fund Budget 19. 3 Million
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Debt Service
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No General Obligation Bonds
Election being held on November 4th for a new police station facility bond for $16.75 million
No Sewer or Water Revenue Bonds
Made last payment in fiscal year 2025
The City anticipates the potential need for both a water and sewer revenue bond in the next 5 years if the current five-year capital improvement plan is adopted
2022 DEQ Loan
1.75% Interest
30-year term
Balance owed $6.75 million
All Local Improvement Districts (LID’s) currently financed internally
Population-Updated w/2024 Census Estimate
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Property Taxes
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2024 Average per Association
of Taxpayers (ATI):
Cities 30.2%
Counties 39.7%
Schools 20.0%
Library 1.7%
Others 8.4%
Property Tax City Comparisons
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Property and Sales Tax Comparison
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Where to Find More Budget Information
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Utility Newsletter
Will insert a link to website w/brief writeup in the Newsletter(s)
City Hall Finance Department
Rexburg City Website
https://www.rexburg.org/o/cor/page/financial-reports