ANNUAL REPORT FOR CITY OF MILBANK AS OF AND FOR THE YEAR ENDED DECEMBER 31, 2025
ANNUAL REPORT FOR CITY OF MILBANK
AS OF AND FOR THE YEAR ENDED DECEMBER 31, 2025
GOVERNMENTAL FUNDS – MODIFIED CASH Basis
3rd Penny Other Total
General Sales Tax Recreation Governmental Governmental
Fund Fund Fund Funds Funds
Beginning Balance 5,711,191.89 88,800.58 262,997.96 8,450,429.06 14,513,419.49
Revenues and Other Sources:
Taxes:
Property Taxes 1,244,457.31 1,244,457.31 2,488,914.62
General Sales and Use Taxes 5.00 167,823.57 4,013,813.06 4,181,641.63
Penalties and Interest on
Delinquent Taxes 1,037.29 1,037.29 2,074.58
Licenses and Permits 36,618.18 36,618.18 73,236.36
Intergovernmental Revenues:
Federal Grants 26,436.00 26,436.00 52,872.00
State Grants 4,500.00 4,500.00 9,000.00
State Shared Revenue 169,729.76 169,729.76 339,459.52
County Shared Revenue 23,342.98 23,342.98 46,685.96
Other Intergovernmental Revenue 42,000.00 42,000.00 84,000.00
Charges for Goods and Services:
General Government 2,277.50 2,257.50 4,535.00
Public Safety 4,471.00 4,471.00 8,942.00
Sanitation 48,216.35 48,216.35 96,432.70
Culture and Recreation 500,032.42 500,032.42 1,000,064.84
Cemetery 15,442.10 15,442.10 30,884.20
Other (airport) 62,784.39 62,784.39 125,568.78
Fines and Forfeits:
Court Fines and Forfeits 72.80 72.80 145.60
Animal Control Fines 253.00 253.00 506.00
Other 2,363.96 2,363.96 4,727.92
Miscellaneous Revenue and
Other Sources:
Investment Earnings 212,707.53 2,004.30 16,785.75 231,497.58 462,995.16
Rentals 14,404.00 6,906.00 21,310.00 42,620.00
Contributions and Donations from
Private Sources 31,764.82 269,605.95 301,370.77 602,741.54
Other Revenues (cable franchise) 51,326.17 51,326.17 102,652.34
Sale of Municipal Property 1,500.00 1,500.00 3,000.00
Compensation for Loss or Damage
to Capital Assets 5,280.00 5,280.00 10,560.00
Total Revenue and Other Sources 2,501,022.56 176,733.87 286,391.70 6,810,112.62 9,774,260.75
Expenditures and Other Uses:
Legislative 63,104.48 63,104.48 126,208.96
Executive 461,339.57 461,358.88 922,698.45
Elections 19.31 19.31 38.62
Police 911,323.19 911,323.19 1,822,646.38
Fire 130,268.86 130,268.86 260,537.72
Highways and Streets 651,428.60 651,428.60 1,320,857.20
Sanitation 51,693.45 51,693.45 103,386.90
Airport 88,847.22 88,847.22 177,694.44
Recreation 800,214.25 800,214.25 1,600,428.50
Parks 648,205.88 648,205.88 1,296,411.76
Urban Redevelopment and
Housing (TIF) 236,712.22 236,712.22 473,424.44
Economic Development and Assistance 0.00 262,352.20 0.00 262,352.20
Debt Service 514,480.00 514,480.00 1,028,960.00
Capital Outlay 4,910,808.32 4,910,808.32 9,821,616.64
Other Expenditures 0.00 30.10 30.10 60.20
Total Expenditures and Other Uses 9,468,445.35 262,352.20 30.10 9,468,494.76 19,199,322.41
Transfers In (Out) 326,113.00 326,113.00 652,226.00
Increase/Decrease in Fund Balance (6,641,309.79) (85,618.33) 286,361.60 (2,332,269.14) (8,772,835.66)
Ending Balance:
Restricted 0.00 3,182.25 549,359.56 558,427.52 1,110,969.33
Unassigned 2,915,866.59 0.00 0.00 2,049,297.98 4,965,164.57
Total Ending Fund Balance 2,915,866.59 3,182.25 549,359.56 2,607,725.50 6,076,133.90
Governmental Long-Term Debt 6,610,000.00
PROPRIETARY FUNDS – MODIFIED CASH Basis
Water Fund Sewer Fund
Beginning Balance 1,240,438.90 906,258.37
Revenues 2,902,708.91 853,390.25
Expenses 3,927,476.27 753,031.43
Transfers In (Out) (326,113.00) 0.00
Ending Balance:
Restricted for:
Revenue Bond Debt Service 1,039,571.68 0.00
Unrestricted (1,150,013.14) 1,006,617.19
Enterprise Long-term Debt 460,960.00 460,960.00
The preceding financial data does not include fiduciary funds or component units. Information pertaining to those activities may be obtained by contacting the municipal finance officer at (605) 432-9575.
Municipal funds are deposited as follows:
Depository Amount
City Checking (general, airport, Unity) 32,853.96
Savings 3,992,351.87
Recreation Gift 551,0756.81
