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The BKV company audit for the city of Wyoming year 2024 was presented and accepted last week by the full Wyoming city council.  There were some good news-bad news pronouncements from reviewing the fiscal situation.

Wyoming is seeing operating losses in sewer and in the water enterprise funds, which are meant to be sustainable. 

On the other hand, building permit revenues are climbing again, and in 2024 this total was closer to what it was in 2022.    From 2023 to 2024 the permit activity line item rose by $89,000, according to the summary provided in the audit.    

Property tax revenue has gone from $3.3 million in 2020 to $4.2 million.  This can be attributed to a combination of increasing what is collected to support a city budget while at the same time experiencing increasing valuations and inclusion of new housing stock.

One indicator that municipalities keep track of is tax rate.  

Wyoming is heading in  an upward direction as far as tax rate. The rate for 2025 will go to 40.4 percent, from about 38 percent BKV calculated for the audit.  (However in 2020, the rate was 43.5 percent.)

Wyoming built up a fund balance over 2024  adding $139,000 to its coffers.  The city has more in balance than is called for in policy and is at eight months’ worth of budgeted expenses. Policy is to have a balance enough to cover 55 percent of the year.

Wyoming has long term debt of $9.5 million over all of the governmental and enterprise funds, which leaves the city still below any statutory debt limit.

In other matters:

~ Council adopted a policy describing what can be displayed on the new lighted electronic sign at Forest Boulevard and East Viking.

~ The police body worn camera policy was reviewed as required under law. The company, Rampart Audit LLC, said everything is substantially compliant with legal requirements, and the recent uses and activities connected to the cameras didn’t show any big issues.  There was a minor wording revision recommended.

~ Touch a Truck, a popular event for kids and the young at heart who love big equipment and noisy horns, is Saturday June 7 at Goodview Park.  The public is welcome, no charge, from 10 a.m. to noon that day.

~ The street improvement plan was authorized for 2025 and consultants will now get bids.  Affected streets include 256th, Grail, Grand Prix, Grizzly and Greenwood Courts. Property owners have been involved in this engineering and assessment  process for months. 

The bids are to be submitted by June 19 and the work commences after bid award by council in July.

~ Council learned the local  heirloom grain company “Sunrise Flour Mill” is relocating to Wyoming, to a building on Fallbrook Avenue, from North Branch.

~ Council was also informed 26-year officer Sgt. Beardsley is retiring. His final day should be late July. A recognition is being planned. 

Editor's Note: The Press wishes to make clear the story in the print version of the Wyoming City Council in the May 15 issue, we did not mean to infer there are water and sewer rate hikes looming in the near future. The 2024 audit presentation showed the enterprise funds are under stress but they are not in the red and will be “monitored.” The city had a couple projects recently upsizing the sewer and looping a water main, which impacted the bottom line. 

Increasing rates is not even under review now, said city administrator Robb Linwood.  

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