Overview
Beloit's 2025 audit is dominated by capital activity: the Capital Projects fund took in $13,603,486.45 — including $13,287,147.53 in bond proceeds — spent $2,988,859.37, and ended the year at $11,238,172.67. The operating picture is tighter: the General Fund spent $240,611.12 more than it took in ($3,100,605.73 against $2,859,994.61), drawing its balance down from $499,777.92 to $259,166.80. The Electric fund, the city's largest operating fund, essentially broke even ($5,107,104.20 in receipts against $5,100,404.62 in expenditures). The city transferred $361,880.23 from Electric, $67,397.82 from Water, and $23,976.63 from Waste-Water into the General Fund during the year.
Source: City of Beloit financial statement, December 31, 2025 (PDF), Schedule 2.
At a glance — 2025 actual (regulatory basis)
Source: Schedule 2; Note 8.
Funds — 2025 actual
Receipts, expenditures, and ending unencumbered cash for the funds whose schedules extracted cleanly. Each row reconciles: beginning balance + receipts − expenditures = ending balance. The Water, Waste-Water, Refuse, Land Bank, and Cemetery Endowment funds' schedules were not extracted, so they are not shown and no city-wide total is claimed. Note a misprint in the source: the Waste-Water Equipment Replacement schedule prints its beginning balance as both $652,638.44 and $652,538.44; $652,638.44 is the figure that reconciles ($652,638.44 + $398,806.44 = $1,051,444.88).
| Fund | Receipts | Expenditures | Ending balance |
|---|---|---|---|
| General | $2,859,994.61 | $3,100,605.73 | $259,166.80 |
| Economic Development | $102,259.88 | $116,602.14 | $12,774.95 |
| Employee Benefits | $1,572,756.80 | $1,678,543.07 | $164,283.27 |
| Equipment Reserve | $79,700.00 | $72,332.12 | $601,089.94 |
| Library | $225,661.68 | $219,400.00 | $9,224.81 |
| Special Highway | $91,702.79 | $68,322.78 | $83,398.97 |
| Special Parks and Recreation | $17,463.97 | $5,276.98 | $98,682.40 |
| Special Law Enforcement Forfeiture | $12.95 | — | $1,238.05 |
| Fire Equipment | $53,968.12 | $60,175.32 | $6,293.60 |
| Police Capital Improvement | $14,718.51 | $23,976.35 | $56,860.65 |
| Electric Equipment Replacement | — | $103,239.14 | $2,143,173.21 |
| Water Equipment Replacement | $93,760.28 | $157,082.43 | $172,170.10 |
| Waste-Water Equipment Replacement | $533,535.96 | $134,729.52 | $1,051,444.88 |
| Capital Improvement | $3,700,633.22 | $3,817,952.79 | $1,137,297.06 |
| Capital Projects | $13,603,486.45 | $2,988,859.37 | $11,238,172.67 |
| Electric | $5,107,104.20 | $5,100,404.62 | $50,822.02 |
Source: Schedule 2.
General Fund — 2025 actual
The General Fund began 2025 with $499,777.92, took in $2,859,994.61 (including $361,880.23 transferred from Electric, $67,397.82 from Water, and $23,976.63 from Waste-Water), spent $3,100,605.73, and ended at $259,166.80. Ad valorem tax ($941,263.06) and local sales tax ($550,417.66) are the largest own-source receipts; interest earnings of $244,298.63 also beat the $146,000 budget by $98,298.63. Spending came in $142,512.75 under the $3,243,118.48 certified budget.
| Department, 2025 actual | Amount |
|---|---|
| Police | $620,784.89 |
| Administration | $554,720.61 |
| Transfers out | $427,500.00 |
| Transportation | $426,256.47 |
| Grounds | $347,905.75 |
| Swimming Pool | $160,699.48 |
| Municipal Court | $160,547.19 |
| Recreation | $111,235.91 |
| North Campus | $94,037.96 |
| Cemetery | $91,718.68 |
| Airport | $61,206.72 |
| Fire | $43,992.07 |
| Total expenditures | $3,100,605.73 |
Source: Schedule 2, General Fund.
Debt service paid — 2025
The audit's debt note did not extract legibly, so no outstanding debt total is claimed. What the fund schedules do show is the debt service actually paid in 2025: the Capital Improvement fund paid $235,000 in principal and $106,183.35 in interest; the Capital Projects fund paid $190,000 in principal and $116,950.02 in interest; and the Electric fund paid $230,000 in principal and $49,650.00 in interest on its cooling-tower debt — $927,783.37 in total debt service across those three funds.
Source: Schedule 2, Capital Improvement, Capital Projects, and Electric funds.
Sources & notes
- Only source used: City of Beloit, Kansas, Independent Auditor's Report and Financial Statement with Supplementary Information for the year ended December 31, 2025 (Jarred, Gilmore & Phillips, PA). Read the statement (PDF).
- Sum checks: the General Fund reconciles ($499,777.92 + $2,859,994.61 − $3,100,605.73 = $259,166.80) and its department lines sum exactly to $3,100,605.73; every fund row in the table reconciles beginning + receipts − expenditures = ending.
- What is missing: the summary table (Statement 1) did not extract legibly, so no city-wide total is claimed; the Water, Waste-Water, Refuse, Land Bank, and Cemetery Endowment fund schedules were not extracted and are not shown; no outstanding debt total is claimed.
- City palette: no verified Beloit palette was on file, so this page uses the neutral Hometown Numbers dark-glass theme rather than a city color.