2025 Annual Comprehensive Report

• FY 2025 included a 4% salary structure adjustment for all eligible employees and a 4% salary increase for roster employees. The adjustment will increase the minimum salary from $18.00 to $18.75 or $39,000 per year. Starting pay will increase to $49,724 for Fire and $57,220 for Police, and pay for both will increase an additional 4% upon graduation from the respective academies.

Capital Asset and Debt Administration A. Capital Assets

The City’s investment in capital assets including intangible assets for both its governmental and business-type activities as of June 30, 2025, amounts to $2,065,558,257 (net of accumulated depreciation/amortization). These assets include buildings, roads and bridges, land, machinery and equipment, park facilities, vehicles and intangible assets such as easements, software and licenses and water rights among other types of assets. This investment represents an increase of $73,959,556 or 3.7% over the prior year.

Table C-1 Capital Assets (Net of Depreciation/Amortization - in thousands of dollars)

This year’s major capital asset additions included: • Business Activities asset net additions totaled over $49.8 million, with most of the increase due to new construction in progress and equipment in Water Resources. Developers also donated approximately $3.8 million of the additional water and sewer infrastructure line improvements. • General government net additions were mainly $40.6 million for increases in furniture, fixtures, machinery, and equipment and, and general construction in progress for bond-funded projects. Construction in progress for governmental-type and business-type capital assets totaled $76,973,615 and $392,692,036 respectively as of June 30, 2025 compared to $47,042,121 and $359,688,767 last year.

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